May 9 (UPI) -- Panasonic revealed during an online press conference Friday that it plans to cut 10,000 jobs from fiscal 2025 to fiscal 2026. Half will be cut in Japan and half overseas. Panasonic Holdings President Yuki Kusumi cited " extremely high " costs relative to similar companies and said the big job cuts are necessary for company profit growth. The company took an $895 million restructuring charge and forecasts a 15.3% profits decline in the year ending next March. The job cuts will be