Panasonic is another important name in the photography business. It looks like the camera maker is also willing to cut jobs, but not as many as Kodak will. Panasonic will fire only 560 people after two plants in Asia will close down. Let’s not forget that Panasonic is struggling too. It had it’s first net loss in six years. If you remember, Panasonic took over Sanyo in a $9 billion deal despite the current financial crisis.

500 workers at the Malaysian electronics parts plant in Malacca will be fired and the remaining 60 will be fired from the battery factory in the Philippines. More job cuts are going to take place by September. Panasonic plans to merge two plants in central Malaysia which means that more people will loose their job.

via azcentral