WSJ summary

Pioneer Cuts 10 ,000 Jobs , Exits TV Business

Japan 's company of electrics , Pioneer Corporations , has announced they will be cutting 10 ,000 jobs as a demand for the consumers electronics have witnessed a big drop with a record loss of 1 .4 Billion dollars in the last year to March . This cut is the latest cut in a bunch of Japanese companies as the global economic crisis troubles the major of Japanese industry , consumer technology and electronics

Pioneer Corporations has competing rivals and costs of production more expensive so Pioneer is

laying off employees not just in Japan , but in the world . They are going to eliminate nine of their thirty production companies while at the same time dropping management pay twenty to fifty percentage points because they need to spend less money "It 's heartbreaking for us to withdraw from the display business , which we spearheaded , but the market is changing faster than we ever expected said Pioneer president Susumu Kotani . They are giving up on the television part of the company because of hard times and increased competition that they cannot keep up with while they are trying to make money . Still Pioneer will continue to develop audio products , disc jockey (DJ ) equipment and cable television set-top boxes

I chose this article because it kind of show what is going on with companies in countries around the world , not just in the United States as has been all over our news here . I think that we will...