Unsure of government plans, the defence sector is beginning a cautious retreat. "With that kind of uncertainty hanging over the budget, it's beginning to affect the planning of companies in the defense sector," said Todd Harrison, a senior fellow for defense budget studies at the Center for Strategic and Budgetary Assessments in Washington. "You're seeing them starting to reposition themselves and downsize in certain areas." http://www.baltimoresun.com/business/bs-bz-northrop-grumman-layoffs-20111020,0,5953575.story Add Comment Royal Philips Electronics NV, the world's largest lighting maker, said Monday it will slash 4,500 jobs after third quarter earnings fell sharply, hurt by a strong euro, weaker margins and more losses at its television division, which it intends to sell. http://www.pennlive.com/newsflash/index.ssf/story/philips-q3-profits-fall-86-percent-to-cut-jobs/1026248361ae4cf6b6ec12f1a65f1171 Panasonic cuts 1,000 as TV prices drop. 10/24/2011
Panasonic announced the closing of plants and continued restructuring due to tough competition in the TV market. A sign of the shifting in high tech that keeps us all on our toes. "A high yen, intense global competition—particularly from South Korean firms—and falling retail prices of televisions have left Japanese manufacturers unable to earn profits by making televisions, the Yomiuri said." http://www.japantoday.com/category/business/view/panasonic-to-trim-tv-business-cut-1000-jobs | John Myers bio
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