14 DAY TRIAL // When we wrote about Panasonic's enormous financial loss around mid-May this year (2012), we knew serious job cuts were coming, but we didn't know which departments and offices would be hit.
Now we do, assuming Nikkei has its facts straight, which it probably does: Panasonic will enact a major restructuring plan at its head office in Osaka, Japan.
The company had to let go of staff before, but it never performed any large-scale overhaul of the workforce at its headquarters.
There is always a first time however, and this is it: between 3,000 and 4,000 workers will leave their jobs whether they like it or not.
Not all will be left totally in the dust though. Some will get early retirements and others will be transferred to subsidiary companies.
Panasonic will continue cutting its workforce and restructuring its whole business until it regains its balance.