Pioneer Shutting TV Operations, Cutting 10,000 Jobs

The carnage in the Japanese consumer electronics industry rolls on.

This morning, Pioneer Corp. announced that it will cut 10,000 jobs and close its TV operations. The company said it now expects a loss for the March 2009 fiscal year of 130 billion yen, or $1.44 billion, far worse than its previous estimated loss of 78 billion yen. Pioneer said it will withdraw from the TV business by March 2010 and cut 16 percent of its full-time staff plus another 4,000 temporary workers, Bloomberg reports.

The company expects FY ’09 sales to be down 28 percent. This will be the company’s fifth straight money-losing year.

Read the rest of this post

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »