Panasonic Holdings¡¯ managers need to feel more of a ¡°sense of crisis¡± given the company¡¯s low profitability and will be judged accordingly, CEO Yuki Kusumi said.
¡°If they don¡¯t produce results, they will have to be replaced,¡± Kusumi said in a recent interview. ¡°The reason for not producing results is the lack of a sense of crisis.¡±
Those are unusually harsh words in Japan, and especially at Panasonic, where the notion of lifetime employment was embraced for years. Two months ago, Kusumi warned in a strategy briefing that the Osaka-based electronics-maker was falling behind on its profitability targets, and that he would reduce the number of ¡°businesses with issues¡± to zero by March 2027.
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