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Panasonic to cut jobs and plasma TV panel production, report says

October 19, 2011 |  6:17 pm

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Reacting to a sluggish TV market, Panasonic Corp. plans to step down production of plasma TV panels and slash several thousands jobs, according to Reuters.

The Japanese electronics company will stop producing plasma panels at its Amagasaki No. 3 factory, the largest plant in the world that makes the glass screens that go into plasma televisions; the plant can manufacture 330,000 panels a month, Reuters reported, citing Japanese media. In addition, the company is also pondering whether to sell a liquid-crystal display panel factory in Chiba prefecture near Tokyo, the report said.

Panasonic also plans to slash several thousand jobs, according to the report. A Panasonic spokesman told Reuters that the company was weighing various routes for its TV business, but had nothing concrete to announce.

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-- Shan Li

Photo: Visitors wearing 3D glasses watch a show on Panasonic Corp.'s Viera 3D television sets during the IFA consumer electronics fair in Berlin in September. Credit: Tim Fadek / Bloomberg

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