Panasonic or further layoffs and the sale of non-core assets

January 10, Panasonic president of Tianjin He Yihong revealed the company may continue through layoffs and the sale of non-core assets to raise funds.

Heyi Hong-chun said the operating profit margin of 5% of the business will be closed or sold, can not be achieved within the next two years. Panasonic may start selling from next fiscal year the worst performance of the business. In the fiscal year ending March 31 this year, Panasonic expects a net loss of $ 8.9 billion.

Tianjin the Heyi Hong Details Panasonic recovery plan released in the end of March last year, he was prepared to the company's 88 business reorganization 56. He Yihong Tianjin, said he will strive to expand the car battery, the income of the enterprise business flight entertainment systems, hydrogen fuel cells, solar panels and LED lighting. In addition, because of the challenge facing Korean competitors such as Samsung, Panasonic may reduce the salaries of their employees, and to form a joint venture company in the semiconductor and other troubled areas, in order to restore profit growth.

Panasonic has just released the world's largest 56-inch 4K resolution OLED TV, Samsung and LG hope to challenge in the emerging markets. Panasonic also OLED field to expand the cooperation with Sony.