Japan's Panasonic to cut 15,000 jobs, shut plants

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Koya Tabata, electronics analyst with Credit Suisse in Tokyo, said Panasonic's decision to reshape its operations and speed up job cuts was positive, resulting in 300 billion yen in cost savings for the fiscal year through March 2010.
He also commended the company's relatively quick efforts to adjust inventory and reduce investments to boost profitability in coming months.
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Its positive? Commendable? to lay off 15,000 employees? Of course the credit Suisse guy is talking about effects for investors and the bottom line. This is part of the reason I left that Industry a number of years back.
 
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