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Panasonic to cut over 1,000 domestic jobs in planned structural reform

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Where those job goes? Place with less expensive labor.

https://english.kyodonews.net/news/2021/04/487424093aaa-panasonic-mulls-reducing-tv-production-shifting-some-to-chinas-tcl.html

https://iipvietnam.com/panasonic-started-the-wave-of-factory-relocation-to-vietnam-golden-opportunity-for-vietnams-industrial-real-estate-to-strengthen-its-position-in-the-international-industrial-property-market.html

5 ( +6 / -1 )

Awful news.

-1 ( +3 / -4 )

Terrible .

-1 ( +3 / -4 )

Seems Japan Inc is downsizing. Managing a smaller workforce more efficiently will be key in maintaining standards of living in Japan. Inviting random foreigners to do menial work will just cause other problems in the long run and needs to be avoided.

0 ( +3 / -3 )

The voluntary retirement program targeting employees who have worked for 10 years or more will be implemented...

Code for legalized age discrimination in an effort to save ¥¥¥¥ by hiring lower waged and less skilled employees.

10 ( +10 / -0 )

Yes, people in their 30's with 10 years of work will enjoy that "retirement."

Oh, and new employees will not get anything close to the retirement plan of older employees. Do it for the company!

2 ( +3 / -1 )

A voluntary early retirement program of 1% of the workforce is hardly "restructuring." I imagine Panasonic will still maintain its "structure." "Pass the hanko, I need to send a fax!"

Awful news.

Nope. It's voluntary. If you want to keep your job, you can. If you want the severance package so you can go live on a beach in Cambodia, you can do that too.

5 ( +5 / -0 )

Inviting random foreigners to do menial work will just cause other problems in the long run and needs to be avoided.

Plane loads of vietnamese are on their way under the guise of acute labor shortage to take the low paying jobs at even lower pay. The race to the bottom for the plebs continue,

4 ( +5 / -1 )

In other news, panasonic to layoff 700 workers in Singapore, oh yes.. consolidate to low cost countries.

https://sg.news.yahoo.com/panasonic-lay-off-700-workers-shut-refrigeration-unit-singapore-114915260.html

1 ( +2 / -1 )

I wish the article would mention more about the "early retirement" incentives. Does anyone know how many equivalent years of salary are these volunteers receiving? This is an important part of the news story.

4 ( +4 / -0 )

Quality of Panasonic product will go down the toilet if production is moved overseas... Which is already is the case with Panasonic batteries for example, the ones made in Vietnam or China are no where as good as the ones made in Japan. I am already having a very hard time finding batteries that are made in Japan.

5 ( +6 / -1 )

And future history books will say that Japan's disappearance all started with Panasonic, Olympus, and Honda in 2021.

2 ( +3 / -1 )

Life is change.

-1 ( +1 / -2 )

Very likely Panasonic will being setting up factories in South East Asia where labor cheap. Nikon, Japan's flagship camera company, has relocated in Thailand.

1 ( +1 / -0 )

Ah, cultural change. There is an older Nihongo term which, apparently, has lost use if this story is any measure: 窓際族 ('window tribe'). This referred to 'lifetime employment' workers who had burned out, lost the faith, whatever, and were left to sit at desks close to the windows doing menial tasks until their time to retire. That clearly is no longer a policy, at least at Panasonic. And I suspect that those who fit this description will be the ones most likely to be strongly urged to 'retire early' as were the 13,000 mentioned circa FY 2000. I have no idea what sort of retirement benefits these early retirees can expect and it would be interesting to know. In America, 'layoffs' rarely are 'early retirements' albeit such programs exist but usually a layoff is just unemployment. Do Japanese companies actually directly support their 'early retired/laid off' workers after they leave? Anyone...?

1 ( +2 / -1 )

Do Japanese companies actually directly support their 'early retired/laid off' workers after they leave? Anyone...?

I only have experience of one company in that situation - a former ship building company that laid off workers in the 1980s. It was not so much the company but the HR boss who worked his butt off making sure everyone was set up with a new job. That included getting the company to act as a loan guarantor for a couple of guys who decided to set up a ramen place. I can't say whether his behavior is typical.

1 ( +1 / -0 )

Thank you...

1 ( +1 / -0 )

The end of Japanese lifetime employment and guaranteed employment. Soon, there will be only temporary employment.

Welcome to the gig economy, Japan!

0 ( +0 / -0 )

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