|
| Panasonic managers urged to buy own products |
| Press Trust of India / Osaka, (Kyodo) Feb 13, 2009, 13:00 IST |
|
Panasonic Corp has directed about 10,000 managerial-level group employees to buy company products by July under the "Buy Panasonic" campaign to shore up shrinking sales that have eroded its profits, company officials said today.
It will be first time Panasonic has launched such a campaign since then Matsushita Electric Industrial Co was reeling under red-ink figures in fiscal 2002, after the collapse of the information technology bubble.
Employees at the section-chief or higher rank will be urged to buy Panasonic products costing USD 1098 (approx. 100,000 yen) or more, while those holding senior managerial positions will be asked to buy products costing $2196 or more, the officials said.
Through the campaign, the company hopes to prop up earnings hit-hard by the global economic downturn and enhance a sense of solidarity among employees group-wide, they said.
Panasonic has already announced various restructuring measures including 15,000 job and executive pay cuts after saying it expects to incur 380 billion yen in group net loss for the year ending next month.
Among Japanese companies, Toyota Motor Corp has also asked middle managers to voluntarily buy new Toyota cars by the end of March to combat sliding global auto sales.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
