US jobs threat | Will US staff be axed as Panasonic cuts 10,000?

The future of two US factories is under threat after Panasonic announced plans to slash 10,000 positions globally and shut down struggling business units as it seeks to reverse slowing sales and improve profitability.

The move is part of a sweeping corporate restructuring unveiled by the Japanese electronics group on Friday.

While Panasonic continues to invest in strategic growth areas, such as its new $4 billion battery manufacturing facility in De Soto, Kansas, set to open this spring, it is simultaneously tightening operations in core consumer electronics and headquarters functions

The electronics giant currently runs a battery production plant in Sparks, Nevada, supplying Tesla, and maintains an office in nearby Reno.