A huge number of 15,000 jobs cut down all over the world, has been announced by Panasonic. It is done as a cost cutting measure.
Makoto Uenoyama, Panasonic’s director said, “Sales fell in all our business segments in the third quarter. We expect sharper sales declines in this quarter, and profits are likely to shrink in every segment.”
Most of the Panasonic employees who will lose their jobs are in Japan. Almost 50% from Japan and the rest 50% will be world over. In UK, most of the people working for Panasonic are at Wales. There Panasonic has 1,000 employees in Cardiff and 500 employees in Newport.
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In order to slash rising costs, 
