Electronics Production |
Pioneer to lay off 10,000; close facilities in UK & USA
Japan based Pioneer is to lay off 10,000 of its worldwide staff and close facilities in the UK and the USA. The company is to exit the TV and Display business and focus on car electronics in the future.
The number includes 6,000 regular staff, as well as 4000 temporary employees. It was also announced that it would exit the production of plasma display panels and close facilities in the UK and USA.
The restructuring also include the reduction of the number of its worldwide production companies by 30%, the restructuring of its sales operations as well as the resizing of its headquarters as well as its R&D operations. The company also announced that it would exit the TV and display business and concentrate its home electronics operations on the audio, DJ equipment, and cable TV set-top box sectors. However, the main focus of the company is to be centered on car electronics.
