Panasonic closes work in Upper Austria: 140 jobs in danger!
Panasonic closes work in Upper Austria: 140 jobs in danger!
Ennshafen, Österreich - Panasonic is in serious difficulties and announces massive cuts: In order to cope with the catastrophic location, 15,000 jobs are canceled and a total of 27 works are closed. The electronics group, once known as a Matsushita, is faced with a threatening net loss of 380 billion yen (the equivalent of around 3.3 billion euros). These unpleasant news was announced when presenting the quarterly figures in Osaka and showing that sales decreased by 20 percent compared to the previous year, in particular a 30 percent minus in abroad. This is the first time in six years that the group expects such a significant loss, whereby the earnings forecasts for the financial year were also significantly corrected downwards, such as Heise reported.
The closure of the Panasonic plant in Upper Austria is particularly dramatic, where circuit board material has been produced for decades. This almost forms the last manufacturing center for such products in Europe. Now Panasonic is planning to move production to Asia in order to survive the intensive cost pressure and hard competition from cheap providers, especially from China. As the Upper Austrian Nachrichten , the company strives to find sociable solutions for the 140 affected employees.The current economic situation forces Panasonic to take drastic measures to get out of the deep crisis. In addition to the layoffs already mentioned, other companies in the industry, such as NEC and Sony, are also faced with similar challenges. The entire Japanese electronics industry, which plays a key role in the third largest economy in the world, is currently affected by one of the most severe crises and has to accept significant job cancellations and financial losses.
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| Ort | Ennshafen, Österreich |
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