Panasonic has come up with a way to beat slumping sales -- order their staff to buy £1,000 of Panasonic products. It's expected that corporate Japan will latch onto this ideal.
Toyota has given kudos to its top brass when they shelled out to buy new Toyota cars. Fujitsu has also jumped on the bandwagon sending out an e-mail letting their staff in on how it would be 'nice' if they would buy PCs and cell phones from their own company.
Panasonic employees have until July to give their hard earned money back to the company. Upper management is required to shell out at least 200,000 yen.
This order comes just two weeks after the same staff were told that they would be seeing their salary and bonuses cut a bit.
Panasonic just announced at that time that it is closing 27 factories and cutting 15,000 jobs.
The company has 230 production sites world wide.
Times Online reports:
“The company’s business conditions have worsened, particularly since last October, largely because of the rapid appreciation of the yen, sluggish consumer spending worldwide and ever-intensified price competition.”