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Business Briefing / Electronics

Pioneer to cut 10,000 jobs

February 13, 2009|Times Wire Reports

Japanese electronics company Pioneer Corp. will cut 10,000 jobs globally as it copes with sinking sales of car audio equipment and flat-screen televisions. It will also withdraw from its money-losing plasma display business.

The massive job cuts are the latest in a slew of layoffs by Japanese corporate giants, which are slashing payrolls worldwide and reducing production amid a global economic slump.

Pioneer said it had decided to close two overseas plasma display assembly plants, one in Pomona, by April.

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