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OSAKA – Panasonic is reportedly planning to cut 3,000 to 4,000 workers at its headquarters here in Japan as the money-losing enterprise tries to stem the tide.

Some employees could be relocated or offered early retirement, according to published reports citing an unnamed source at the plant. Currently, the site employs 7,000.

The firm previously announced 17,000 layoffs.

Panasonic posted a $9.7 billion loss in 2011. The electronics giant employs 350,000 workers globally.

BEIJING – China is “shocked” that the US is alleging Chinese companies provided counterfeit electronic parts to the US army, says a spokesperson for China's Foreign Ministry.

China’s Foreign Ministry believes the US government should first investigate contract details and identify suppliers, according to published reports.

The statements came in response to a US Senate Armed Service Committee report that states the finding of more than one million suspected counterfeit parts in the Department of Defense's supply chain, about 70% of which were determined to have come from Chinese companies. The committee also said the US Defense Ministry and US-based defense contractors worked with hundreds of independent distributors.

The parts were slated for use in US Navy helicopters and surveillance planes, and Air Force cargo planes.

HONG KONG -- SMT Holdings Ltd. reported fiscal fourth-quarter revenue fell 58% year-over-year to HK$182.7 million ($23.5 million) on operation downsizing and drops in demand for LCD TVs, computer peripherals, industrial and automotive products.

BANNOCKBURN, IL – North American printed circuit board shipments in April decreased 4.5% year-over-year, and orders fell 8.3% from April 2011, says IPC.

Year to date, industry shipments were down 6%, and orders were up 0.8%. Sequentially, shipments for April decreased 10.6%, and orders decreased 13.5%.

The April book-to-bill ratio decreased slightly, but continued in positive territory at 1.04.

A ratio of more than 1.00 suggests that current demand is ahead of supply, which is a positive indicator for sales growth over the next two to three months.

Rigid circuit board shipments were down 3.6% year-over-year, and orders decreased 8.6% compared to the same month in 2011. Year to date, rigid PCB shipments decreased 5.8%, and orders increased 1.2%. Sequentially, rigid shipments decreased 10.5%, while orders decreased 13%.

The book-to-bill ratio for the North American rigid PCB industry remained above parity at 1.03.

Flex circuit board shipments were down 13.8%, and orders were down 5.2% compared to April 2011. Year to date, flex shipments decreased 8.9%, and orders decreased 2.4%. Sequentially, shipments decreased 10.9%, while orders were down 18.8%.

The flex book-to-bill ratio remained high at 1.16.

“April PCB sales and orders in North America continued slightly below last year’s levels and reflected normal seasonal patterns,” said Sharon Starr, IPC director of market research. “The good news is that the book-to-bill ratio continued to be positive for the fifth consecutive month. When orders exceed sales, there is potential for sales growth over the next three to six months.”

Rigid PCBs represent an estimated 89% of the current industry in North America. In April, 83% of total PCB shipments reported were domestically produced. Domestic production accounted for 82% of rigid PCB and 85% of flex board shipments.