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back to article Pioneer unplugs tellies and 10,000 workers

Gadget maker Pioneer is axing jobs and pulling out of making flatscreen tellies because "there are no prospects for improving profitability under current conditions". Both LCD and plasma boxes are for the chop. The Japanese firm will concentrate on car electronics, navigation, audio and professional DJ kit instead. Pioneer had a …

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Setting a Good Example

"The firm will pay no bonuses to directors, and expects exec and director pay to fall some 20 per cent to 50 per cent until March 2011."

Jeez. If only a few other industries (hello, banking? I'm looking at you!) would follow suit on this part.

Being laid off (been there twice, currently looking at #3 inside the next 6-12) is never fun, but even less so when a single director - usually being one of the people who got things wrong which has led to you being out of work - gets a yearly bonus worth more than you could hope to make in your working life*.

*Peter Cummings, HBOS Chief Exec Corporate Division**: 2007, Basic pay = £630,000, plus a further £1,976,000 bonus - giving a total package (£2.606M) enough to pay for 170 branch staff (earning £12-15k at present), with leftovers for cake.

At £30k pa, it would take you nearly 87 years to make what he did in one - and all he did was break everything.

** not that I have a particular dislike for either Mr Cummins or HBOS, his was simply the first set of details I found - and seeing as HBOS has fallen to pieces, it seemed more appropriate that looking for Barclays.

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Flame

Mabye it's profitable....

As far as I am concerned maybe their car navigation systems are profitable, but they should have stuck with TVs. They certainly will NEVER get another dime from me for a navigation system. They make the lowest quality kit on the market bar none. And the support desk lies to your face -- well ear actually.

However, I can say with first hand experience that once you protest the charges to your credit card company and they find themselves with payment being withdrawn by someone with a hell of a lot bigger stick than theirs, they can be forced kicking, screaming, and cussing to abide by the legal minimum.

Will the moderators let me get by with a "rot in hell pioneer" end tag?

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Unhappy

Shame

Real shame as their plasma telly's are actually worth the label HD compared to the cheap mass market rubbish...

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Dead Vulture

Sorely missed

The plasma fans will sorely miss the Kuros: nothing came even close in terms of quality. However, IMHO, there wasn't much hope for the future of this technology.

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Shame, but

I'm glad they're not winding down DJ hardware development.. My CDJ1000's are probably my most precious items.

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Dan
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Credit crunch = no place for quality

So one of the best TV manufacturers is gone. Clearly, cheaper is indeed more cheerful.

(Ok, being fair, I am overdoing it a bit - the Panasonic set that I will opt for instead will be almost as good, and use the same display panel.)

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Silver badge

Does this mean...

I'll have to go out and buy a 60" kuro while they still make them, damn it?

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Thumb Up

does this mean?

that they are going to make new record players?

actually new DJkit is quite exciting, but its a very competitive market, and they are not only up against Technics and Vestax anymore

some of the "lesser quality" players have released some serious kit, Numark and Kam etc.

tellies might come back again some other time, when margins get decent again, but when you can pick up a 32" LCD for less than £300 its a tough market!!!

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Anonymous Coward

Sad

Another company laying off thousands of workers. Kudos for not paying bonuses and for being sensible about their execs pay though.

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Boffin

Re: "Sorely missed"

Plasma screens are going the way of the incandescent light bulb. California (always a bellwether) either has, or will, prohibit their sale in the state on energy efficiency grounds. They'll take my Kuro from my cold, dead hands!

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Give me $5 and RUN MY LIFE

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Do a bungee jump in Queenstown in New Zealand?

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The choice of what I am todo is entirely up to the voters each Sunday night after June 1st until the cash runs out.

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give a comment or two on the site if you have the time so I can get the feelings for the logic..

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