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Panasonic is closing two factories in Malaysia and the Philippines with the loss of 560 jobs. Blaming a “a rapid change in the global electronics market,” workers at the electronics parts plant and battery factory are affected. In a separate development, the Nikkei paper has reported that Panasonic will report a a net loss of about 100 billion yen ($1.1 billion) for 2008/9, its first loss for 6 years.

Website: Panasonic to cut 560 jobs, close Asian plants