May 29 (Reuters) - Japanese electronics group Panasonic Corp plans to nearly halve its headquarters division workforce through early retirement and transfers to subsidiaries, Nikkei business daily said.
The company, which incurred a record 772.1 billion yen ($9.71 billion) group net loss for the year ended March 31, will trim its 7,000-strong headquarters workforce by 3,000 to 4,000, the business daily reported.
Panasonic, which has reduced staffing levels in hard hit segments such as televisions and cameras, aims to achieve a 50 billion yen group net profit in the year ending March 2013 through the proposed overhaul and other measures, the paper said.
The maker of Viera TVs and Lumix cameras hopes to speed up decision making through these streamlining measures, which will be overseen by incoming President Kazuhiro Tsuga, the business daily reported.
Discussions with the workers are expected to begin in July, with the company likely to start offering early retirement as soon as this fall, the paper said.
The company is also considering spinning off R&D and production technology functions. Procurement division personnel could be transferred to closely affiliated segments, Nikkei said.