KNOXVILLE, Tenn. (AP) -- A unit of Panasonic Corp. will end production of audio speakers and electronic capacitors in Tennessee and move the division headquarters to Texas to be closer to manufacturing operations in Mexico.
The Knoxville News Sentinel reported Tuesday that Knoxville-based Panasonic Electronic Devices Corp. of America is transferring speaker production to Reynosa, Mexico, and snap-in capacitor production to Asian factories. The division headquarters is moving to McAllen, Texas, to be nearer the Mexico plant.
Company spokesman Clark Brandon said the moves will eliminate 90 jobs in Knoxville, leaving 80 employees in a facility that had more than 700 at its peak in 2002.
Tokyo-based parent Panasonic Corp. posted a loss for a third straight quarter on Monday.