Sony Denies Plans for Further “Restructuring”
- Scribbled on January 5th, 2009 by Jonah Falcon
- Filed in Industry News, Rumor Mill, Sony PSP, Sony PlayStation 2, Sony PlayStation 3
TheStreet.com is reporting that Sony told Bloomberg News they had no plans for further “restructuring” (corporatespeak for layoffs) in Europe that had been reported in the Times of London:
Company sources told the Times of London that operations across the electronics company are braced for a series of “sacred cow-slaying” measures that they believe will abolish or fundamentally alter many of Sony’s long-established business practices.
The report said the restructuring at Sony is likely to be announced after the Consumer Electronics Show in Las Vegas in January. Most of the changes will occur at Sony’s domestic Japanese operations in the form of factory closings and the abolition of several major divisions.
Microsoft had also been rumored to have also been preparing for layoffs, though not in their profitable Xbox 360 division, as the recession continues to hit major business – and in turn, regular employees – hard.
January 12th, 2009 at 6:52 pm
[...] announced that it would be cutting 16,000 jobs to try to save $1B per year, but has recently denied it would enact any further [...]
January 21st, 2009 at 10:52 pm
[...] may not stop there, as analysts state that Sony needs to make even more drastic cuts, though Sony denies it will need to. “Sony’s not in a position to halt all domestic production but it has to do something [...]