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Pioneer to Drop Plasmas by March 2010, Cuts 10K Jobs
Net loss for current fiscal year will be $1.4 billion, its fifth straight annual net loss.
The bad news for high-profile electronics makers continues.
Pioneer will cut 10,000 jobs, according to Yahoo! News, which cites suffering car audio and flat-panel TV sales. It will also stop making plasma displays, including its highly-rated Kuro plasma, by March 2010.
A Japanese newspaper recently reported on Pioneer possibly halting all TV production.
Vizio also is stopping plasma production, raising questions about the future of that product category.
It's tough times for Pioneer, which says its net loss in the current fiscal year to March will be 130 billion yen ($1.4 billion), a far cry from its previous estimate of a 78 billion yen net loss, according to Yahoo! News. It would be the fifth straight annual net loss for Pioneer.
The 10,000 jobs include 6,000 full-time global workers, 16 percent of its workforce, and 4,000 contract workers, according to the report. By April, Pioneer will close plasma display assembly plants in Pomona, Calif. and Castleford, UK. About 350 employees (130 in California) are included in the 10,000.
Tough decisions loom for Pioneer, according to a company statement describing "intensifying competition involving our core products, as well as the impact of the worsening global economic downturn and the Japanese yen's rapid appreciation."
Pioneer will cut 10,000 jobs, according to Yahoo! News, which cites suffering car audio and flat-panel TV sales. It will also stop making plasma displays, including its highly-rated Kuro plasma, by March 2010.
A Japanese newspaper recently reported on Pioneer possibly halting all TV production.
Vizio also is stopping plasma production, raising questions about the future of that product category.
It's tough times for Pioneer, which says its net loss in the current fiscal year to March will be 130 billion yen ($1.4 billion), a far cry from its previous estimate of a 78 billion yen net loss, according to Yahoo! News. It would be the fifth straight annual net loss for Pioneer.
The 10,000 jobs include 6,000 full-time global workers, 16 percent of its workforce, and 4,000 contract workers, according to the report. By April, Pioneer will close plasma display assembly plants in Pomona, Calif. and Castleford, UK. About 350 employees (130 in California) are included in the 10,000.
Tough decisions loom for Pioneer, according to a company statement describing "intensifying competition involving our core products, as well as the impact of the worsening global economic downturn and the Japanese yen's rapid appreciation."
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About the Author
Tom LeBlanc, Senior Writer/Technology Editor, CE Pro
Tom has been covering consumer electronics for six years. Before that, he wrote for the sports department of the Boston Herald. Migrating to magazines, he was a staff editor for a golf publication and an outdoor sports publication. Now, as senior writer/technology editor of CE Pro magazine since 2003, he dabbles in all departments and offers expertise in marketing. Follow him on Twitter @leblanctom.
4 Comments (displayed in order by date/time)
This is bad for a few reasons. Not only the levels of black will fade into the overtly sideways talk but the time it takes for 1080p lines of covers will most likely end up in solitude. I see they will not be making the final side line of the later mention of the 2010 guide line is shallow.
correct me if im wrong. But, haulting production of all tvs, would include led backlit lcd’s
A sad moment for the Tv industry. Pioneer manufacture the best Plasma TVs on the market.
http://www.digitaldirect.co.uk
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Pioneer has seen the next generation of led backlit lcd’s. Plasma is doomed.