Sony’s financial problems aren’t news to anyone who has even a vague interest in the money behind the tech business. The company has lost substantial amounts of money over the past four years, with heavy losses in its television business. Recently, Sony admitted that its yearly financial report would include losses totalling around £2.1billion.
Recently promoted head of the company, Kaz Hirai, has admitted that there’s a sense of crisis and has been expected not to shy away from drastic measures to save the failing electronics giant.
Now, Japanese newspaper Nikkei, is reporting that Sony could be set to cut 10,000 jobs across the company before the end of 2012. That’s around six per cent of their global workforce. It is unknown what impact this will have on the still relatively successful PlayStation arm of Sony but such sweeping job cuts are likely to impact all areas of their business.
It is also reported that the company’s seven executive directors who served up to the end of the current fiscal year, including the now departed Sir Howard Stringer, have been asked to return their bonuses.
Source: Reuters
skibadee
this will be the change that is coming I think kaz can get it back on top.
jeanbailey
Regardless of being one of the most significant names in electronics, Sony has been publishing enormous losses for four years running. The company has announced that it is anticipating a quarterly loss of almost $3 billion and is firing 10,000 workers. The effects of natural disasters that hit Japan as well as the massive flooding in Thailand, affects Sony’s manufacturing that leads to tremendous losses at the end of 2011 and the fiscal year that has just ended. In addition to that, its chemicals operations which are being sold to the Development Bank of Japan, Sony is also going to reduce its workforce by 6 percent, or 10,000 people. There are several top executives that are also being asked to return bonuses, according to MSNBC. Article Source: 10K workers to get pink slips in Sony layoffs.