Panasonic has announced that it will cut 10,000 employees

Panasonic published the full year financial report. And there are a couple of important notes:

1. Panasonic never discloses detailed info about the Lumix business but in the general Entertainment and Communications report they say that “Revenue increased due to increased sales of AV equipment and digital camera equipment.”
2. The company will cut 10,000 employees both in Japan and overseas (5,000 in Japan and 5,000 overseas) by the end of this fiscal year. This will particularly affect the TV business. It’s unclear if this means there will be some cut in the Camera business too.