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Panasonic Offers Early Retirement For Employees Aged 40 To 59

TOKYO, Sep 26 (News On Japan) - Panasonic Holdings will begin soliciting early retirement applications next month at one of its core operating companies as part of broader restructuring efforts.

The company has already announced plans to improve profitability by reviewing underperforming businesses such as consumer electronics and cutting around 10,000 jobs globally.

According to sources, Panasonic, which handles key businesses including consumer appliances and employs about 40% of the group’s workforce, will open applications for early retirement from October 1st for one month.

Eligible employees are those between 40 and 59 years old with at least five years of service. Retirement benefits will be supplemented depending on age and other factors, and the company aims to complete the workforce reduction by the end of December.

Source: YOMIURI

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