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Pioneer Electronics Australia has axed their entire team of State Managers, they have been replaced with sales agents in each State. The move is set to push their local Australian subsidiary losses out to around $12 million.
Late last week the Japanese Company reported a 17.2 percent drop in global operating revenue down by $1.59 billion due to lower sales of plasma displays, DVD drives and car audio products.
The operating loss for Pioneer was $66.1 million, compared with an operating income of $9.03 million during last year’s second quarter, due to lower operating revenue and lower gross margins. Pioneer had restructuring expenses of $150.2 million due to an early-retirement program.
The net loss was $434.9 million compared with a net loss last year of $23 million, which Pioneer blamed mostly on the higher value of the Japanese yen.
In Australia the Company was forecast to do losses of $6million however this is believed to have blown out to $12 million due to retrenchment and restructuring costs.
Under the new structure Pioneer is concentrating their sales and marketing activities on the specialist channel and a new range of Kuro plasma TV’s and high end range of home theatre systems and premium Blu ray payers.
They have also appointed sales agents in various States to replace the retrenched sales staff. Among those axed is Mark Anning the former National Marketing Manager of AV.
