Japanese tech company Panasonic cuts 4% of its global workforce as profits falter

TOKYO: Panasonic will slash its global workforce by 10,000 people, half in Japan and half overseas, to become a more efficient, “lean” company, the Japanese manufacturer said Friday.

The job cuts, amounting to about 4% of its 230,000 workers, will include early retirement offers in Japan and closures and consolidation of various operations, according to the Osaka-based maker of home appliances, such as washing machines and refrigerators.