Nikkei: Panasonic to cut chip-making workforce by 50%, sell some plants

10/24/2013 | Reuters

Panasonic plans to jettison some 7,000 of the 14,000 employees it has involved in semiconductor manufacturing, and it may divest some of its chip-making facilities in Japan and other countries, the Nikkei newspaper reported. Some of the overseas facilities could be sold to Tower Semiconductor, a silicon foundry, according to the Nikkei. Panasonic's semiconductor operations posted a fiscal 2012 loss of $1.89 billion.

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