What is Panasonic's plan to improve profitability?

Panasonic is expanding job cuts to 12,000 and expects to achieve ¥145 billion in cost savings by fiscal year 2024.

How much is Alphabet investing in AI infrastructure?

Alphabet plans to spend up to $185 billion this year on data centers and infrastructure to support its AI ambitions.

What is the performance of Alphabet's Gemini AI model?

Alphabet's Gemini AI model is rapidly acquiring new users, with 750 million active users by December, and is integrated across various products.

Home / Business and Economy / Panasonic Restructures: Job Cuts Fuel Investor Optimism

Panasonic Restructures: Job Cuts Fuel Investor Optimism

5 Feb

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Summary

Panasonic job cuts expanded to 12,000, aiming for ¥145 billion savings.
Alphabet plans up to $185 billion in capital expenditures for AI infrastructure.
Alphabet's Gemini AI model shows rapid user growth and revenue potential.

Panasonic Restructures: Job Cuts Fuel Investor Optimism

Panasonic Holdings Corp. saw its shares jump 15% in Tokyo trading, reflecting investor optimism about its restructuring efforts expected to yield financial benefits next fiscal year. The company increased its planned job cuts to 12,000, anticipating an additional ¥13 billion in cost savings starting October, contributing to a total of ¥145 billion projected for fiscal year 2024.

Separately, Alphabet Inc. announced ambitious capital spending plans, allocating up to $185 billion this year to bolster the data centers and infrastructure required for artificial intelligence leadership. This significant investment follows a quarter where Alphabet surpassed revenue projections, with Google Cloud revenue increasing by 48% to $17.7 billion. Its AI model, Gemini, is rapidly gaining users and integrating across products.