Panasonic plans to close 27 factories and shed thousands of jobs.

Panasonic plans to close 27 factories and shed thousands of jobs on the back of falling demand for electronics products such as TVs.

The firm will close 13 plants in Japan and 14 overseas.

The move is expected to lead to the loss of 15,000 jobs worldwide.

It is not yet clear whether digital camera production will be affected.

At the time of writing, Panasonic UK had yet to comment.