Panasonic decided to dismantle the camera division and to put it under the umbrella of other business divisions

Nikkei reports that Panasonic will dismantle six of their divisions. The camera division will be put under the umbrella of other business division to streamline the costs:

The proposal drawn up by Panasonic’s business planning department, based on President Kazuhiro Tsuga’s ideas, calls for reforms to six money-losing businesses.

digital cameras, private branch exchange telephone systems and optical disk drives — will be dismantled. Each will be scaled back and placed under the umbrella of other operations, with headcount to be reduced.

This is an effort to reduce personal and costs. What’s also interesting is that they plan to quite from the semiconductor business. But as reported by Nikkei:

Restructuring is not enough; company needs new growth drivers

And the current Panasonic plan seems to not focus on finding new growth drivers :(