Panasonic announced plans to cut 10,000 jobs globally by March 2026 as part of a major restructuring effort costing $896 million. Half the layoffs will hit employees in Japan, with the other half affecting overseas roles, primarily in sales and administrative teams.

　The Japanese conglomerate also revealed it may sell or exit its low-performing TV business and break up a subsidiary managing appliances, air conditioners, and lighting into separate units.

　On the upside, Panasonic forecasts a 39% jump in operating profit for its electric vehicle (EV) battery division by March 2026, driven by rising demand for batteries and energy storage systems. The unit’s profit is projected to hit $11.5 billion (¥1.67 trillion).

　As of September 2024, Panasonic employed roughly 229,000 people worldwide. The cuts mark its sharpest workforce reduction in years, signaling a pivot toward high-growth sectors like EV tech—and away from legacy businesses.

　No further pricing details were shared, but the move underscores corporate Japan’s scramble to stay competitive. For now, investors are left weighing layoffs against battery bets.