Panasonic cuts workers, shuts Philippine factory

TOKYO — Panasonic Corp. said Wednesday it will cut 560 jobs in Asia due to the closure of two plants in the region, while declining to confirm a report saying the Japanese electronics giant will likely suffer its first net loss in six years.

The world’s largest maker of plasma television will shut down a factory in Malaysia and another plant in the Philippines to “cope with a rapid change in the global electronics market,” said spokesman Akira Kadota.

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