The ailing Japanese electronics giant has been struggling against a rising tide of lower-cost rivals, particularly in South Korea, and has seen its business suffer further from the economic aftershocks of the 11 March tsunami.
President Fumio Ohtsubo concedes the company will fire another 17,000 workers this year – following a similar number of layoffs in 2010 – as it remoulds its business after the acquisition of smaller rival Sanyo.
Panasonic’s
