Sony Posts First Operating Loss in 14 Years
- Scribbled on January 12th, 2009 by Jonah Falcon
- Filed in Industry News, Press Release
The recession has officially hit Sony hard, as Reuters is reporting that the company’s posted its first operating loss in well over a decade.
The operating loss — Sony’s first in 14 years — could be double that, depending on inventory conditions in the January-March quarter, the Nikkei said it had learned. In October, Sony forecast a full-year operating profit of 200 billion yen for the year to March 31, down from 475.2 billion yen in 2006/07.
Sony’s already 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 “restructuring”.
This is only the second year Sony has ever posted an operating loss since it went public in 1958.
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