Pioneer announces 10,000 job cuts

[Coventina]

Source: BBC

Japanese electronics maker Pioneer is to cut a further 10,000 jobs as it warned it expected to report an annual loss of 130bn yen ($1.4bn; £1bn).

The struggling company also announced that it is to close its loss-making flat-screen television business.

Hit by the sharp fall in global consumer spending, Pioneer had already shed 5,900 jobs last year.

Pioneer described the decision to pull out of making flat TVs, a sector it once led, as "extremely painful".



Read more: http://news.bbc.co.uk/1/hi/business/7885175.stm