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Panasonic Corp to Halve Health Care Unit's Production, R&D Sites- Nikkei

Friday, 4 Oct 2013 08:00pm EDT 

Nikkei reported that Panasonic Corp announced that it will consolidate the development and production facilities of its health care unit, reducing them from six locations to three by the end of March 2016, as part of efforts to raise efficiency. The move came after Panasonic reached an agreement at the end of September to sell 80% of Panasonic Healthcare Co. to U.S. private-equity firm KKR & Co. The Company will close the subsidiary's main production plant in Saijo, Ehime Prefecture, which makes ultrasound diagnosis and other equipment. About 900 people currently work there. Combined with two other locations, a total of 1,100 workers at the three sites to be shut down -- about one-third of all Panasonic Healthcare employees -- will be reassigned elsewhere. A plant in Toon, also in Ehime Prefecture, that makes sensors for measuring blood sugar levels will likely be among the sites taking in those workers. For those who cannot relocate, voluntary retirement programs will help them find other jobs. 

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