# Panasonic Announces Major Restructuring: 10,000 Job Cuts and TV Business Overhaul
May 15 Update – According to Nikkei Asia, Panasonic Holdings will implement aggressive reforms for its struggling TV business as part of a large-scale restructuring plan that includes cutting 10,000 jobs globally.
## TV Business in Crisis
Panasonic CEO Yuki Kusumi told reporters this week that the company has been shifting its TV operations to a "light-asset model," outsourcing production to partners. However, he admitted these measures may not be enough to save the division.
"Continuous losses in our TV business are unacceptable—we can't sustain this anymore," Kusumi stated. "Further restructuring is coming." While future strategies may vary by region, no specifics were provided.
## Wider Restructuring Plan
Last week, Panasonic unveiled plans to streamline underperforming businesses, including closures and department consolidations. The job cuts—primarily affecting 10,000 positions worldwide—are expected within the next 10 months.
## Profitability Struggles
Despite five years of restructuring efforts, Panasonic's operating profit margin remains stagnant at 3.4%–5%, lagging behind Japanese peers like Sony and Hitachi.
In Japan and Southeast Asia, its iconic appliances (refrigerators, microwaves, etc.) face fierce competition from high-quality Chinese brands, eroding market share.
## Future Focus
Panasonic insists it’s not exiting consumer electronics but aims to make the sector profitable through deeper reforms. Kusumi also highlighted expansion into enterprise services, including supply chain and energy management.
## Learning from China
Kusumi noted China’s superior product development efficiency: "We should leverage cost advantages gained in China to strengthen our Japanese operations." The company plans to boost exports of China-developed products to Southeast Asia while reducing locally customized models.
May 15 Update – According to Nikkei Asia, Panasonic Holdings will implement aggressive reforms for its struggling TV business as part of a large-scale restructuring plan that includes cutting 10,000 jobs globally.
## TV Business in Crisis
Panasonic CEO Yuki Kusumi told reporters this week that the company has been shifting its TV operations to a "light-asset model," outsourcing production to partners. However, he admitted these measures may not be enough to save the division.
"Continuous losses in our TV business are unacceptable—we can't sustain this anymore," Kusumi stated. "Further restructuring is coming." While future strategies may vary by region, no specifics were provided.
## Wider Restructuring Plan
Last week, Panasonic unveiled plans to streamline underperforming businesses, including closures and department consolidations. The job cuts—primarily affecting 10,000 positions worldwide—are expected within the next 10 months.
## Profitability Struggles
Despite five years of restructuring efforts, Panasonic's operating profit margin remains stagnant at 3.4%–5%, lagging behind Japanese peers like Sony and Hitachi.
In Japan and Southeast Asia, its iconic appliances (refrigerators, microwaves, etc.) face fierce competition from high-quality Chinese brands, eroding market share.
## Future Focus
Panasonic insists it’s not exiting consumer electronics but aims to make the sector profitable through deeper reforms. Kusumi also highlighted expansion into enterprise services, including supply chain and energy management.
## Learning from China
Kusumi noted China’s superior product development efficiency: "We should leverage cost advantages gained in China to strengthen our Japanese operations." The company plans to boost exports of China-developed products to Southeast Asia while reducing locally customized models.
