Japanese pioneer to lay off thousands of president and chairman to resign

(Nihon KeizaiShimbun) Japanese Economic News reported yesterday, Japan's Pioneer Co (Pioneer Corp., 6773.T, hereinafter referred to as the "pioneer") plans to cut 10% of Japan's employees, and the number reached 1000 people. At the same time, the company will shrink DVD player business.

Announced layoffs at the same time, in view of the pioneer of poor performance, President of KeneoIto and chairman of K Anya Matsumoto will resign. KanyaMatsumoto, now executive vice president, will take over as president next month. At present, the vanguard of this series of restructuring plan still needs to be approved at today's board of directors.

According to Reuters, the vanguard is not the first time this year announced layoffs. As early as March this year, the pioneer said it would cut 2000 employees. However, the layoffs were announced mainly for the company's overseas staff.