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Pioneer Shutting TV Ops Cutting 10,000 Jobs

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Henning

Feb 12, 2009 - CST 2:57 PM
says... http://twitter.com/madeby
Henning
Member since:
February 2002
Truly sad

Quote:
This morning, Pioneer Corp. (PNCOF.PK) announced that it will cut 10,000 jobs and close its TV operations. The company said it now expects a loss for the March 2009 fiscal year of 130 billion yen, or $1.44 billion, far worse than its previous estimated loss of 78 billion yen. Pioneer said it will withdraw form the TV business by March 2010 and cut 16% of its full time staff plus another 4,000 temporary workers, Bloomberg reports.

The company expects FY ‘09 sales to be down 28%. This will be the company’s fifth straight money losing year.

Pioneer is closing a plasma TV factory in the U.K. this month, and another in the U.S. in April.


http://blogs.barrons.com/techtraderdaily/2009/02/12/pioneer-shutting-tv-ops-cutting-10000-jobs/

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