JVC Kenwood, seeks voluntary staff retirement to save costs and limit mounting red ink

 

JVC Kenwood, a leading Japanese electronics company, revealed that they are soliciting the voluntary retirement of a few hundred of their employees - targeting executive officers, aged 45 or older. A few hundred would equate to their goal of a reduction of 10% of their current level of about 4,200 employees.

The company cites a predicted earnings loss of JPY 5.5 billion (USD 55 million) for the full business year through March 2014. According to the company, the deficit happened due to sluggish sales of their car navigation system, which is their leading product.

For those who decide to voluntarily leave the company, JVC Kenwood will pay an incremental benefit over their current retirement benefits.  

In addition to that, starting this month, they will lower their directors' salaries by 12-26% and that of executive officers by 10% for the next 5 months.

Regarding their interim financial results, the company has revenues of JPY 148.4 billion (USD 1.48 billion) which is a decrease of 0.6% compared with the prior year.  Already through September, net loss for the year is JPY 5.1 billion (USD 51 million).
 

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JVC Kenwood is going to release 4 kinds of headphones from their stereo headphone series "esnsy".

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HA-FX19 has a 9mm neodymium driver unit and 3 different sizes of silicon ear pieces come with it.
 

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SU-AX7 is compliant with Hi-Res audio (192kHz/24bit Linear PCM) playback. It also applies new K2 Technology that makes the sound quality higher than Hi-Res audio to bring it closer to the quality of the master audio source.

In terms of input terminals, there is a USB A and USB micro B in the front, and there is an optical digital input and stereo mini analog input.

 

From JVC Kenwood's JVC brand, new Bluetooth audio component system "NX-W5" will be out for about ¥35,000 in early November.

"NX-W5" consist of a unit and the unit includes a CD player (you insert a CD from top to bottom), AM/FM tuner, USB terminal, amplifier, and speaker. The control buttons are located at the bottom and a soft lighting illuminates the buttons. It has a sleep timer function and daily timer function (that increases the sound volume gradually up to the level you set).

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3 colors (blue, red, and white) are available.

Price: Open price
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