May 12, 2008

Rumor: Pioneer Slashing 2000 Jobs To Save Plasma Biz

Pioneer may make the best plasma TV's around, but with inefficiencies in the companies manufacturing process, they've had to outsource the KURO panels to Matsushita for production. Now a Nikkei newspaper is reporting that when Pioneer announcing its 2007 fiscal earnings (actually a predicted loss) in just a few hours time, they'll also announce that 2000 Pioneer employees will be out of a job. That's 5% of the company's total workforce, apparently deemed dispensable just so the company can get its plasma biz back on track.

The layoffs are rumored to occur over the next fiscal year ending March of 2009 and mainly include the companies 3 domestic plants. Some layoffs will be done through early retirement packages, but 200-odd plasma-related engineers and researchers will likely be headed for Matsushita. The company is also rumored to be considering job cuts in it home A/V department, and hopes to have its plasma biz back on track by 2010.

Via Earth Times