To cut down about 1000 jobs within the company
Japan-based Panasonic said it will cut down domestic semiconductor production by the end of March 2012 and slash about 1000 jobs within the company.
This move is seen as an effort to revamp the company’s loss making TV business, which 2010 share fell to 8% in the overall TV market.
Reuters citing a Nikkei business daily report said the company will cut output in all of its domestic chip-manufacturing facilities, including the Uozu plant in Toyama prefecture in Japan.
The company plans to increase its outsourcing ratio from the current 10% to around 30-40% in the coming years, and is expected to outsource more chips from firms like Taiwan Semiconductor Manufacturing.
It has also decided to close down the No. 3 factory for PDP TV in Amagasaki, Hyogo prefecture, by 2012, and is planning to sell an LCD panel plant in Mobara, Chiba prefecture.