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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

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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