Panasonic to Halt TV Manufacturing, Announces 12,000 Global Layoffs

Panasonic is exiting its 75-year-old TV manufacturing business as part of a massive global restructuring plan. The electronics giant will outsource production and sales to China-based Skyworth Display Technology starting April 2026. Alongside this structural shift, Panasonic announced 12,000 global layoffs, representing approximately 5% of its workforce. The company aims to pivot away from loss-making consumer hardware to high-growth segments like EV batteries, AI automation, and energy storage systems to secure its future profitability.