Pioneer to axe 10,000 jobs
Japanese manufacturer Pioneer is to cut 10,000 jobs globally to cope with sinking sales of car audio equipment and flat screen televisions.
Facilities in the UK and USA are to be shut down, while further restructures will see a 30% reduction in the number of its worldwide production companies.
The company has also announced its intentions to withdraw from the plasma display market by March 2010.
In a statement, Pioneer revealed that from now on its main focus will be on car electronics, navigation and audio products.
The job cuts are the latest from Japanese electronics giants, following Sony and NEC shedding a total of 28,000 global employees.
