Investing.com - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

CORRECTED-Panasonic says to cut workforce to 350,000 by end-fiscal 2012

Published 04/28/2011, 04:54 AM
Updated 04/28/2011, 04:56 AM
MAT1
-

(Corrects year in first paragraph to 2012, not 2011; clarifies headline by adding 'end')

TOKYO, April 28 (Reuters) - Japanese consumer electronics maker Panasonic Corp said on Thursday it would cut its workforce to about 350,000 by the end of fiscal year 2012.

The company had 384,586 employees as of March 31, 2010, according to its website.

Panasonic also said it would maintain its target of a 5 percent operating profit margin for fiscal year 2012/13.

The company aims to post sales of 9.4 trillion yen ($114 billion) in fiscal 2012/13, below its previous target of 10 trillion yen. ($1 = 82.220 Japanese Yen) (Reporting by Isabel Reynolds; Editing by Edmund Klamann)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.