Struggling electronics maker Panasonic Corp. is aiming to shed around 10,000 more jobs, mostly overseas, including 8,000 workers who will be let go in the second half of the fiscal year to next March, sources said.
The majority of jobs to be eliminated is thought to consist of staff recruited locally as Panasonic consolidates some operations conducted by its subsidiary, Sanyo Electric Co., in China and other overseas markets, according to the sources.
Costs for these workforce reduction steps have already been factored into the company's earnings estimate for the year through March, the sources added.