The big news on February 13, 2009 hit the TV world by storm. Pioneer Corp, one of the first Plasma brands, is stopping all plasma production. They will no longer manufacturer their quality driven plasma TVs. Due to the lack of demand for plasmas, Pioneer let go 27% of its workforce, equally to about 10,000 jobs globally.
It shut down 2 overseas plasma assembly and distribution centers in California and Britain. Its Japanese factory was minimized by 6,000 workers. With a net loss of $1.4 billion US, its operating revenue declined 38.8 percent.
Not only did the reduction hit Pioneer’s TV division, the cut affected throughout other departments such as Pro DJ and car audio. "Since the U.S. financial crisis and ensuing global downturn, our sales of car electronics products and flat-screen TVs plunged worldwide. We were severely hit by battered consumer sentiment," said Michiko Kadoi, another Pioneer spokeswoman.
Source: http://news.yahoo.com/s/ap/20090212/ap_on_bi_ge/as_japan_pioneer
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