Panasonic May Boot 40,000 People

Analysts are speculating that Panasonic is planning to cut approximately 40,000 jobs over a couple of years.

Reuters is stating that Panasonic is being forced to take such drastic measures in its restructuring plans in its struggle to cut operating costs.  That said Panasonic is facing stiff competition from other Asian consumer electronics companies in Korea and China and has seen its profits dwindle over the year.

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