Panasonic to lay off 10,000 employees globally amid restructuring

Panasonic Holdings Corp. said Friday it will lay off 10,000 domestic and overseas employees, or just under 5 percent of its total workforce, as part of restructuring its business.The firm said the job cuts will target 5,000 workers in Japan and 5,000 overseas, with some employees to be offered early retirement. As of March, Panasonic had a workforce of 207,548 people.After recording a 130 billion yen ($895 million) restructuring charge, the electronics maker is seeking to streamline its workforce."Responsibility for management lies with me," President Yuki Kusumi said in an online press con…READ FULL ARTICLE