Panasonic Cuts 15,000 Jobs; Global Layoffs

A cheap night at home in front of the television may have new appeal for cost-conscious consumers these days, but that hasn't made television manufacturers and their employees immune to the recession. Panasonic Corp., the electronics giant known for flat-screen TVs as well as digital cameras, announced today that it would slash 15,000 jobs and close 27 plants worldwide. In December, rival consumer electronics maker Sony announced 16,000 job cuts. Panasonic, which saw its third-quarter sales...Full Story
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