Matsushita to Cut Jobs in Digital Electronics Operations
Jan 25, 2005
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Matsushita Electric Industrial Co, a major consumer electronics firm, plans to trim about 1,000 jobs in its digital electronics operations in Japan, one of its core businesses, the Nihon Keizai Shimbun reported without citing sources.
The division generates 40 percent of its group revenue, according to the report.
By reducing the number of its excess jobs and scaling down output of unprofitable products, Matsushita aims to accelerate its shift in focus to growth areas such as flat-panel televisions, the financial daily said.
The company also plans to better prepare itself for anticipated changes in the digital electronics market, such as price declines and intensified competition. Matsushita will also step up its efforts to develop and produce plasma TVs, digital cameras, and other items to catch up with growing global demand.
The company plans to enhance production efficiency for plasma TVs by bringing onstream a panel factory in Japan in November 2005, and will likely improve efficiency of digital camera development through an alliance with Olympus Corp, according to the report. (AFX)
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