Sony Cutting 8000 Electronics Jobs, Closing Plants
- Scribbled on December 9th, 2008 by Jonah Falcon
- Filed in Industry News, Sony PSP, Sony PlayStation 2, Sony PlayStation 3
The BBC is reporting that Sony is axing 8,000 jobs and shutting down 10% of its manufacturing facilities.
Sony aims to generate cost savings of about 100bn yen ($1.1bn; £730m) by the end of the next financial year.
It will cut its investment in electronic operations by 30% and shut down about 10% of its 57 production facilities.
“The number sounds big, but this staff reduction won’t be enough,” said Katsuhiko Mori, a fund manager at Daiwa SB Investments.
“Sony doesn’t have any core businesses that generate stable profits – the next thing we want to see is what is going to be the business that will drive the company.”
There’s no word if the cuts involve its PlayStation brand.
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