Pioneer to Restructure, Cut 600 Jobs Dec 2, 2005

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Japanese electronics maker Pioneer Corp. will reportedly cut 600 jobs in Japan as part of a revival plan that is said to help better integrate the company's TV and audio equipment units.

The job cuts will come through early retirements and are in addition to the 2,000 worldwide job cuts Pioneer announced in March, the Nihon Keizai newspaper said.

Pioneer spokesman Kesanobu Yamagishi would not comment on the report but confirmed that the company is drafting a comeback plan. He could not say whether additional job cuts are being considered.

Tokyo-based Pioneer has been cutting jobs, trimming its product lineup and introducing a new inventory system to cut annual costs by 30 billion yen (approx. U.S. $252 million). The company has been hammered by tumbling prices for plasma display TVs and DVD recorders, its core products. (AP)

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