Onkyo to reduce personnel by 30% Home audio business

Onkyo Inc., a major audio equipment company, announced a structural reform centered on reducing the number of personnel in the home audio business by 30% and consolidating its bases. The company ceased to sell its home audio business to the US, and it was an urgent task to review its strategy. He wants to make a structural reform by reducing personnel. However, the issue of sound financial conditions such as new funding remains.news world ahmed

Onkyo stopped selling its home audio business to a US company in October
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Onkyo stopped selling its home audio business to a US company in October

In addition to implementing a 30% reduction in the number of people in the home audio business, the number of post positions will be halved. The system has three bases, two in Osaka and one in Tokyo. The system has been changed to one in Osaka and one in Tokyo. These measures will reduce costs by around 1 billion yen per year.news world ahmed

Onkyo canceled the sale of its home audio business to Sound United in May, which was announced in May. This business is the main business that accounts for 70% of consolidated sales. It was sold for 75 million dollars (about 8 billion yen), and it was a strategy that focused on businesses for automobiles and other companies, but it was forced to review the strategy.news world ahmed

With regard to financing instead of business divestiture, the company will discuss with multiple companies, including a capital tie-up with a major Taiwanese electronic equipment manufacturing service (EMS). In August, SBI Securities decided to issue stock acquisition rights.