Panasonic will be consolidating the global headquarters functions, including research and development (R&D), of its Refrigeration Compressor Business Unit in Singapore to Japan as part of our long-term business strategic review of the portfolio. The consolidation will be completed by 31st March 2024.
Panasonic started the refrigeration compressor business in Singapore in March 1972. In half a century, it has established its reputation as one of the major global refrigeration compressor manufacturers. In 2017, we moved the global headquarters functions of this business to Singapore, and have been working to speed up the business through localized management. We would like to express our deepest gratitude to all the stakeholders who have greatly contributed to the development of this business.
We will consider job reassignment within the Group, and also, we are working closely with the relevant authorities, including government agencies and United Workers of Electronics & Electrical Industries, to ensure all affected employees (about 50 employees) are well supported during this transition, and helping them with job placements.
Panasonic will continue to supply products with high energy-saving performance to strengthen its compressor business and contribute to reducing CO2 emissions. We will work to realize a better life and a more sustainable global environment.
Singapore remains an important regional hub for Panasonic Group, with more than 1,300 employees. We will continue to contribute to the Singapore economy through our various businesses with advanced technology.
For media queries, please contact:
Stanley Wong
Corporate Communications
Stanley.Wong@sg.panasonic.com