JVC America recently laid off an unspecified number of employees, according to TWICE. No further lay offs are currently planned.
The lay offs occurred at JVC America primarily but other branches were affected.
Last September, the company also laid off a group of workers. In April 2009, JVC consolidated three companies into one, eliminating fifteen percent of the company's U.S. workforce.
Clearly JVC is hurting and needs to cut costs. These consolidations come on the heels of a recent announcement that JVC and Kenwood would cost their costs by merging into one company.
Klipsch was recently purchased by Audiovox and now lay offs at JVC prove that companies are hurting all around. It will be interesting to see what the future holds for these brands.