Panasonic Reports Losses, Closes Factories
Aug 4, 2009
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Panasonic posted a net loss of 52.98 billion yen (approx. US$560 million) for the April-June quarter. Revenue fell 25.9% to 1.60 trillion yen.

It expects sales to drop 10% to 7.0 trillion yen, but operating profit to rise 2.9% to 75 billion yen.

It also said it was cutting 15,000 jobs and closing dozens of manufacturing facilities.

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