Jump to content
House Price Crash Forum
Sign in to follow this  
TheCountOfNowhere

Panasonic Cuts 17000 Jobs

Recommended Posts

It's worse than that, Jim.

From the Asahi Shimbun website: http://www.asahi.com/business/update/0428/OSK201104280021.html

パナソニックは、グループ全体で国内外約38万人(2010年3月末現在)の従業員を、2013年3月末までに1割削減する方針を固めた。

You could ask Google to translate this Japanese sentence, in which case you would get:

Panasonic is about 38 million people worldwide in the whole group (March 31, 2010), employees, plans to cut 10 percent by the end of March 2013.

Or you could get a human to translate, in which case it would come out as:

Panasonic has decided to reduce its global Group workforce of some 380 thousand people (as of 31 March 2010) by 10% by the end of March 2011.

Looks like 38,000 or so jobs for the axe. (The company will sell off subsidiaries and eliminate overlapping operations.) Still, I agree: who will be around to buy all their stuff if no one has a job? :huh:

Edited by Odakyu-sen

Share this post


Link to post
Share on other sites

Who will buy all the "stuff" when everyone's redundant? :unsure:

That's easy...the unemployed will MEW and Borrow from the banks and buy it that way....when they fail top pay it back the banks will get more tax money.

Simple, problem solved.

:rolleyes:

Share this post


Link to post
Share on other sites

That's easy...the unemployed will MEW and Borrow from the banks and buy it that way....when they fail top pay it back the banks will get more tax money.

Simple, problem solved.

:rolleyes:

<_< Something tells me that I am in the wrong business.

Share this post


Link to post
Share on other sites

Who will buy all the "stuff" when everyone's redundant? :unsure:

If you are suggesting they should be retained in employment in order to buy stuff, you need to consider the role of credit. If consumers were feeding their habit with borrowed money, it is unsustainable whether the company keeps the staff or not (read: the company aren't going to borrow on their behalf - that's unsustainable too).

Share this post


Link to post
Share on other sites

Who will buy all the "stuff" when everyone's redundant? :unsure:

The same people who have since real wages started falling in the 70s.

With the help of buckets of credit.

Share this post


Link to post
Share on other sites

This is clearly linked to the next six + months of non or very low productivity out of Japan for components. Sony and Pana were suffering before the quake and wave. The Japanese will work like dogs to get productivity back on track but so many different suppliers were destroyed in Sendai and the surrounding areas that even if the Panasonic factory was back up and ready tomorrow they will still not be able to work because the smaller companies that produce widgits for Pana are still fooked and will be for a considerable time.

Expect numerous similar stories over the coming months. The knock on is inevitable.

Share this post


Link to post
Share on other sites

Great shame for those involved, but the consumerist machine has over expanded; we have filled our boots with all the cr*p we need, and now there is no option but to reduce. The materialistic orgy which we have indulged for so long is slowing down big time.

Share this post


Link to post
Share on other sites

Who will buy all the "stuff" when everyone's redundant? :unsure:

99p EB.....will have to learn to live and use what was fashionable in the past.....as long as it does the job asked of it. ;)

Share this post


Link to post
Share on other sites

That's easy...the unemployed will MEW and Borrow from the banks and buy it that way....when they fail top pay it back the banks will get more tax money.

Simple, problem solved.

:rolleyes:

I don't think you can see the fatal flaw in your cunning plan. :rolleyes:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.