Tesla supplier Panasonic to cut costs to support shift into AI

Panasonic is considering an overhaul of personnel and trimming underperforming businesses to lower fixed costs, part of a shift into more lucrative areas such as powering AI data centers.

The Osaka-based company, whose sprawling operations include hairdryers, PCs and lithium-ion batteries used by the likes of Tesla, will restructure or streamline businesses with low growth potential, according to a statement released on Tuesday. It said it will also make changes to its employment structure.

One target may be the company’s long-standing TV operations.