Panasonic is a name that some of you may know, if you spend a lot of time thinking about consumer electronics. So, before we talk about the sizable job cuts to come lets begin by taking a look at how Panasonic had chosen to describe itself, “Our Founder, Konosuke Matsushita, was deeply committed to improving peoples’ lives and making the world a better place. Today, his legacy continues to fuel our passion for making things better–at home, at work, at play, and on-the-go. It’s what drives us to redefine the way people watch TV, and to broadcast the world’s biggest events in 3D. It’s what drives us to power large sports and entertainment venues with green energy, while entertaining their patrons on our breathtaking Hi-Def screens. It drives us to create the batteries that power tomorrow’s energy-efficient cars, communication systems that keep people in touch wherever they go, nearly indestructible laptops, and the Sustainable Smart Towns of the future. At Panasonic, we’re driven to make what matters most, better.”

Sadly the company is getting ready to cut back on about 10,000 between now and the end of next March. The company, which is losing money in several places, has not outlined too much about the job cuts they are making. If the job cuts come to the divisions in the USA then the company may run across a mass layoff action. For those of you who are not familiar with the idea of a mass layoff action here is a look at how the company chooses to describe itself, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.” The only good news, if the company does manage to trigger a mass layoff action, is that they will have to give the workers several weeks of notice about the job cuts to come. That will give workers the much-needed time to start putting in job applications and begin their job search.

Interestingly enough the company, in a recent release, chose to talk about a new piece of technology they are releasing instead of the job cuts they are making, “Panasonic is proud to introduce the new Digital Single Lens Mirrorless DMC-GH3.  The LUMIX GH3 is not just a compact, lightweight camera. It is an attractive, top-of-the-line mirrorless single lens system camera that is tough enough to withstand the extreme conditions of heavy field use. The new Live MOS Sensor achieves high-resolution images with minimum noise. And the new Venus Engine attains high-speed, high-quality signal processing. These features combine to maximize shooting fun and operating ease. Another prominent feature of the LUMIX GH3 is a tough body that is rugged enough to stand up to professional use. It features a magnesium alloy full diecast body and advanced splash / dustproof construction that was achieved by sealing the sections of the camera body to enable shooting under extreme conditions. Although the LUMIX GH3 integrates features a class above other G Series models, it is still compact when compared with an SLR camera featuring equivalent performance and functions. The body has enabled a new control layout with three dials on the front and back as well as single-function buttons. The LUMIX GH3 allows users to capture images in extreme environments and provides superb mobility. It also records still images consecutively at a rate of about 6 fps. The LUMIX GH3 is proud to assume the role of Panasonic’s flagship digital single-lens mirrorless camera.”

The post Panasonic to Cut Jobs appeared first on LayOff Watch.