June 21, 2004
Matsushitu to Shift Jobs to China, Malaysia
Japanese firm Matsushitu, which makes the Panasonic brand, is planning on sending about 2.5 percent of its workforce to China and Malaysia in an effort to reduce costs.
From CNN Money:
"The Nihon Keizai Shimbun said Matsushita, makers of Panasonic branded electronics, plans to offer workers an early retirement package from July aimed at trimming back about 2.5 percent of its 120,000 employees in Japan.
"After two years of losses, Matsushita swung to profit in the past business year ended March 31, helped in part by cost-cutting efforts from a restructuring programme started three years ago that included plant closures and around 13,000 job cuts." Read More
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