rather significant loss earlier this year, the company is now guiding to a wider-than-forecast net loss of ¥78 billion ($789.9 million) for the year to March 31, blaming the surging yen and the slowing economy. The company is scheduled to nix its unprofitable plasma-panel operations by February and slash 2,000 jobs this fiscal year in order to counter the bleeding, and it looks as if former president Tamihiko Sudo is one of the first bigwigs to fall. As of November 16th, Susumu Kotani (pictured right) will take over that role, though we can't imagine he's looking forward to grabbing the captain's chair in such a turbulent environment.
[Via PC World, image courtesy of DayLife]
Pioneer forecasts even wider net loss, names new president
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.