Sanyo may cease to exist under Panasonic reorganization: Nikkei

(Reuters) - Sanyo Electric Co may cease to exist under a reorganization by Panasonic Corp that includes global jobs cuts, Nikkei reported on Friday. Panasonic will cut 90 percent of Sanyo's global workforce of about 2,500 in around three years, the daily reported. About 1,000 workers at Sanyo's headquarters will be reduced to around 100 this fiscal year, leaving just a skeleton crew for handling legal matters, managing intellectual property and other tasks. Panasonic may decide to absorb the unit entirely, the Nikkei said. ...

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