Panasonic warns of $4.2 billion loss, to cut 15,000 jobs

[Bluebear]

Source: yahoo news

TOKYO (Reuters) – Japan's Panasonic Corp (6752.T), the world's No.1 plasma TV maker warned it would post an annual loss of $4.2 billion and said it would cut 15,000 jobs and close plants as it battles a slump in demand and a stronger yen.

The maker of Viera flat TVs and Lumix digital cameras is struggling with slowing sales, the growing costs of plant closures and other restructuring moves, and a steep rise in the yen, which cuts into exporters' overseas revenues.



Read more: http://news.yahoo.com/s/nm/20090204/bs_nm/us_panasonic_results

[Skittles]

1. the bush legacy lives on dudn't it, PT?

:mad:

[FrenchieCat]

2. And Republicans fiddle, and the Media misleads,

while Rome Burns aka, people's lives are irreparably damaged.

[tomreedtoon]

3. Gee, wonder why plasma TV's aren't selling?

Possibly because they're expensive boondoggles that burn out after only a few years of operation? That they are pretentious yuppie toys? That they don't have any real value? That maybe we don't have money to buy those things anymore?

And it's costing them money to close the plants and throw people out of work? My heart bleeds for them.

[Kolesar]

4. Remember when "the Japanese" dumped TVs in the US to steal our electronics business?

They managed to steal our semiconductor business in the process. Dumping is selling below cost as a long term strategy to destroy the competition. It is illegal according to trade laws.

This was documented in articles by Pat Choat.

Think of all the US electronics engineers who could have had stellar careers were it not for them.