Japanese Hardware Layoffs Continue: Panasonic To Cut 10K More Workers In The Next 5 Months

The Japanese tech industry continues to feel the squeeze in the economy, with one of the most painful effects being more mass layoffs of workers. In the latest development, Panasonic Corp. says that it will reduce its workforce by 10,000 employees by the end of this fiscal year, which completes in March 2013. The company had already warned that it will post losses of $10 billion for the full year, because of writeoffs in its mobile, solar panel and lithium batter businesses.