Panasonic Corp., which aims to cut 15,000 jobs as it faces its first net loss in six years, has asked domestic managers to buy company products worth at least ¥100,000 to boost sales.
The company, the world's largest consumer-electronics maker, urged around 10,000 managers to purchase the items by July, Takahisa Ito, a company spokesman, said Friday in a phone interview. Ito said the company estimates the initiative will generate ¥1 billion in sales. Employees won't be required to report what they bought or where they made the purchase, he said.
Osaka-based Panasonic said on Feb. 4 it expects to post a net loss of ¥380 billion in the year ending March 31, as consumer demand for televisions, appliances and cameras slumps amid the global recession. Panasonic Director Makoto Uenoyama said that in addition to cutting jobs, the company will shut 27 factories initially, with further closures likely.
Panasonic asked employees to buy products during the last recession in 2002, Ito said.
"We often do such internal campaigns. But it is the first time in seven years that we set specific sales targets and a timetable," Ito said.
