Panasonic nukes 500 American jobs
http://www.EmploymentCrossing.com Japan’s Matsushita Electric is shuttering its Panasonic car stereo manufacturing plant in Georgia, cutting loose 500 people American workers. The plant closing is one of the largest business losses in the Peach state this year. Panasonic workers were notified of the decision on Thursday, according to the Atlanta Journal-Constitution. The company will still operate its product development department and regional administrative headquarters at the Peachtree City location, which opened in 1987. Panasonic says they are responding to the troubled U.S. auto market, which has been affected by high gas prices, falling home prices and the poor economy. “All the companies that supply the auto industry right now are affected by the downturn,” said Jim Reilly, spokesperson for Panasonic North America. The closing will happen in phases over the next 16 months.
