Thursday February 12, 2009

Pioneer plasma TV line to become history as Pioneer quits TV business, cuts 10000 jobs

Japanese electronics maker Pioneer said it would pull the plug on its loss-making flat TV business and cut an additional 10,000 jobs as it heads for a record $1.4 billion annual loss. Pioneer, a niche player in the flat TV market and one of the world's largest makers of car electronics, has suffered along with other Japanese electronics companies due to the slowing global economy and strong yen. The company said it would withdraw from the flat TV business by March 2010 and consider an alliance in optical disks as part of a restructuring that will put greater focus on its car electronics business. Those cuts will come on top of the 5,900 jobs already shed between March and December of last year, which brought its global workforce down to 36,900.

- The end of an era. Pioneer was famed for its plasma TV's. Being a peakoiler, I do not personally approve of plasma TV's from an energy consumption point of view, but it's really too bad that Pioneer was overtaken by the LCD TV's and now crushed by the global economic collapse. They really were pioneers in the flat TV business, they deserve some credit for that.

See also :

1. Pioneer to end plasma display panel production
2. Wave of job cuts across corporate America, mass layoffs well beyond Wall Street
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse

(2009-02-12 23:51:38 SGT) [Biz] Permalink

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