BUSINESS BRIEFING / ELECTRONICS
Times Wire Reports
Japanese electronics company Pioneer Corp. will cut 10,000 jobs globally as it copes with sinking sales of car audio equipment and flat-screen televisions. It will also withdraw from its money-losing plasma display business.
The massive job cuts are the latest in a slew of layoffs by Japanese corporate giants, which are slashing payrolls worldwide and reducing production amid a global economic slump.
Pioneer said it had decided to close two overseas plasma display assembly plants, one in Pomona, by April.
