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Layoffs Hit JVC

9/30/2010 01:30:15 PM Eastern
Wayne, N.J. - JVC America said Thursday it imposed layoffs to mostly administrative departments in an effort to streamline operations and remain competitive.

At press time, the company would not say how many employees were impacted in the move.

According to a company statement, "As part of our ongoing effort to streamline operations and remain competitive, JVC has reorganized staff in mostly administrative departments, which has resulted in layoffs. The move will not affect our day-to-day business with our dealers."

In other recent moves, the company's corporate parent JVC Kenwood Holdings said three weeks ago that the Victor Co. of Japan (JVC) unit entered into a memorandum of understanding to form a strategic LCD TV business partnership with Taiwan-based AmTRAN Technology (AmTRAN), a manufacturer of televisions and other products for various brands around the world, including Vizio.

JVC and AmTRAN said they intend to build a new partnership by combining their strengths. The partnership will use the JVC brand on LCD TVs.

AmTRAN is a  top-three global manufacturer of LCD TVs and will be responsible for production and sales, while JVC Kenwood will provide brand licensing and leverage in "technologies, quality and sales," the companies said.

According to a statement, "Initially, the collaboration could start from North America territory."

Both parties are said to be studying expanding the effort to other regions including Asia.

The partnership is expected "to be developed into a wide range of collaborative relationships," according to a statement.

"From now on, JVC and AmTRAN will discuss concluding a formal strategic partnership agreement, and begin planning and developing products aiming to launch in early 2011," the companies said.

Specifics of the business plan and other matters will be discussed at the conclusion of formal agreements, the companies said.
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