Panasonic to cut 5,000 workers from automotive and industrial division

Newswire

TOKYO, May 30 (Reuters) - Panasonic Corp said it will cut around 5,000 workers from its automotive and industrial division in a bid to bolster its operating profit margin over the next three years to a 5 percent minimum set by the company's president, Kazuhiko Tsuga. The division, which covers automotive components, semiconductors, production machinery and other devices, employs 110,000 people, around a third of Panasonic's workforce. The business is at the forefront of ...

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