Panasonic will cut the workforce by 10,000 roles in an attempt to enhance efficiency.
The Japanese electronics manufacturer, which provides batteries to Tesla through its Panasonic Energy, plans to reduce 5,000 roles in Japan and 5,000 abroad. This is about 4 % of the workforce, which number about 230,000.
In a statement on Friday, Panasonic said it intends to “review the operational efficiency accurately … mainly in sales and indirect sales, and re -evaluating the numbers of organizations and employees actually necessary.”
“Through these measures, the company will improve our employees on a global scale,” the statement added.
The discounts will take place in this fiscal year, which ends in March 2026, “according to labor laws, rules and regulations in every country and region.”
The discounts are expected to bear the costs of approximately $ 900 million.
Panasonic shares were closed by 2 % in Tokyo.
The customs tariff for President Donald Trump and the trade war with China have made the global economic outlook this year.
In January, Panasonic Energy said she wanted to curb her dependence on China for EV batteries.
“We have some Chinese supplies, but we don’t have much.” “We have plans not to exist, and we are progressing, and it has accelerated.”
In 2022, Panasonic chose the work week that the government recommended for a period of four days in Japan, which aims to reduce the number of employees who get sick or even die from excessive work.
“The company should support the well -being of our employees.”
