Monday , 4 November 2024
Breaking News
Home » Business » Sony to cut 10,000 jobs worldwide

Sony to cut 10,000 jobs worldwide

Unable to bear the continuing loss, Sony is planning on cutting over 10,000 jobs worldwide just to make ends meet.

The Nikkei business daily and other media said Sony’s decision to slash 6 percent of its work force comes as it struggles with weak TV sales and swelling losses.

Sony spokeswoman Yoko Yasukouchi wouldn’t confirm the reports.

New CEO Kazuo Hirai is holding a press conference Thursday.

Sony has announced restructuring plans by selling its chemical unit. Sony is also merging its LCD panel operation with Toshiba and Hitachi. Yasukouchi said those changes could affect up to 5,000 employees who are subject to transfers.

Sony earlier this year reported a 159 billion yen ($2.1 billion) loss for the October-December quarter and more than doubled its projected loss for the full fiscal year through March 2013.

Related stories:

German economy sees ‘record’ growth of 2.2%
Forbes Rich List 2011: Top 20 richest people in the World
AMR files for Bankruptcy!
Facebook to buy Instagram for $1 Billion
Rite Aid Posts Quarterly Loss, Again!
Last of Hostess Twinkies Sold for $60!
Top Reasons Businesses Fail
Google Buys Cloud Monitoring Service Stackdriver