TOKYO, July 9 Panasonic Corp's
restructuring costs for the financial year that began in April
may exceed its planned 41 billion yen ($515.5 million), its new
president said on Monday.
Kazuhiro Tsuga, approved by shareholders as Panasonic
president on June 27, told a media briefing in Tokyo that the
company would prepare a new business plan by this autumn and a
detailed plan on 90 business units by February, acknowledging
that the company has many business units undermining its
Tsuga, 55, took over the sprawling consumer electronics
giant after it posted a record annual net loss, including costs
to restructure its business to stem the flow of red ink from its
Tsuga's task at the maker of Viera sets will be to boost
revenue at other divisions, including appliances and batteries,
to make up for shrinking consumer electronic revenues and create
profit centres for a post-TV future.
That retooling, including shifting more production overseas,
may involve painful job cuts in a bloated workforce of 330,000.