Japan’s Pioneer to Cut 10, 000 Jobs Globally

Kelsey Walker
2/12/09
8:59PM

Due to the recent global economic crisis, Japan’s electronic cooperation Pioneer has been forced to lay of 10, 000 workers worldwide. Due to the decrease in sales, Sony and Nissan plan to lay off 28, 000 people total. Japan has predicted their net lost from last year at 78 million to be close to 130 million by the end of this year. This is forcing Pioneer to not only lay off workers but also cut wages of 6,000 full-time workers including 16 percent of the company’s global workforce. Also Pioneer will be shutting two overseas plasma T.V. plants down. By April 130 workers will be out of work in the U.S. and 220 in Britain. Japan wishes to have all their plasma display factories and withdraw for the business by 2010. Factory owners conform that most of their losses are due to the United States economic downturn and the drop in consumption of T.V.s, cars, and electronics.

Not only is the economic crisis is the United States affecting Americans, it is also forcing companies all across the globe to go out of business. Since America is a core nation our hardships usually double on countries such as Japan. Because we live in a post-capitalistic society and everything revolves around consumption when crisis do hit, they hit hard. The sad thing is that, everything goes around in a full circle. Not only are Japan workers out of jobs, also foreign workers, such as the U.S. is also out of work. So, here we see a clear example of globalization.

http://www.nytimes.com/aponline/2009/02/12/business/AP-AS-Japan-Pioneer.html?ref=business