Japan's Pioneer to cut 2,000 jobs: report

0 Comments | AFP, May, 2008

TOKYO (AFP) — Troubled Japanese electronics maker Pioneer Corp. plans to cut 2,000 jobs as it restructures its plasma television operations in an effort to return to profit, a report said on Tuesday.

The job losses in Japan and overseas, which are expected to be implemented in the current fiscal year to next March, follow the company's decision in March to stop making plasma display panels.

Instead it will buy them from Matsushita Electrical Industrial Co.

The Nikkei said Pioneer would transfer about 200 researchers and engineers involved in the plasma operations to Matsushita.

Pioneer, which is expected to report later Tuesday a fourth straight year in the red, has had a hard time in recent years after being saddled with overcapacity in plasma...