(MENAFN) The Japanese electronics giant Panasonic Corp posted USD9.7 billion losses at the end of the business year; an unprecedented loss, reported Reuters.
Recently 17,000 workers were laid-off from plants and other facilities, Panasonic is marinating on firing more workers. Next in line for firing is their headquarters or staff may be re-positioned with various plans on the table for restructuring.
A Panasonic spokeswoman said no job cuts have been decided, but restructuring is always an option.
Kazuhiro Tsuga, who will be Panasonic's President next month, stated that his main aims are to speed up the decision-making process and to rejuvenize their failing TV sector in the next two years.
Panasonic and Sony have been in talks attempting to join teams on creating a technology that will totally replace LCD televisions with OLED TVs.
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