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Panasonic to close three departments and cut jobs

More job cuts at Panasonic as losses continue to pile up for the the electronics giant, the MoneyDJ reports.

According to reports, the company will be closing three departments that are not making money, named as digital camera, private branch exchange (PBX), and compact disc.

There are also plans to sell the LCD production line, the semiconductor business, and the solar cell business.

One of the two LCD production lines at Hyōgo, Japan is going to cease production soon, as the company searches a buyer for the facility.

In 2012, Panasonic suffered significant losses after its plasma display panel (PDP) division failed. The company cut a large number of jobs, ended its television production lines in USA and mainland China, and stepped out of the smart phone market.

The latest round of job cuts is another significant change made by the company since its major restructuring in 2012.

Job cuts at HTC

In other news, the Apple Daily reported last week that according to sources familiar with the matter HTC had laid off 10 employees last Wednesday.

In response to the layoff rumours, HTC said the company would "continue evaluating its personnel arrangements to boost organisational efficiency and competitiveness."

The company recently hired Paul Brown, former Sony Music UK director and Spotify managing director, as their general manager, Vive, Europe. Brown will oversee HTC's virtual reality (VR) unit.

ALSO READ: HSBC cuts Hong Kong jobs, restructuring at Google

Photo/ 123RF

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