Markets

FOX Business Briefs 5/9

Panasonic to cut 10,000 jobs; AMC Networks profit shrinks; Airlines are cutting back on summer travel routes; Candy giant Ferrero announces slate of new products.

Panasonic cutting 10K jobs from its workforce

Electronics maker Panasonic Holdings is trimming 10,000 jobs from its workforce. The company announced the job cuts as part of a broader effort to increase its profitability moving forward.