Pioneer Corp. said Tuesday it will cut more than 2,000 jobs — 10 percent of its group workforce — through voluntary retirement by employees and sales of noncore businesses to promote its rehabilitation.
Pioneer also said it will sell its DJ equipment business for use in dance music to U.S. investment fund Kohlberg Kravis Roberts & Co. for ¥59 billion, completing the transfer by March.
As part of its corporate restructuring, Pioneer is focusing its resources on equipment for automobiles with steady demand, such as navigation systems.
Pioneer has said it plans to integrate its audiovisual business and some other operations with Onkyo Corp. around March as part of a tie-up.
“We will re-establish a solid foundation for our business, and we’re determined to come out a winner through the competition in devices for autos,” said President Susumu Kotani.
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