Report: Sony To Ax 10,000 Jobs, Expects $2.7B Loss - Spokane, North Idaho News & Weather KHQ.com

Report: Sony To Ax 10,000 Jobs, Expects $2.7B Loss

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MSNBC.COM - Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, the Nikkei newspaper reported on Monday, as new CEO Kazuo Hirai comes under pressure to return the Japanese consumer electronics and entertainment company to profit after four years in the red.

The job cuts are the latest downsizing in Japan Inc where companies from tech names NEC Corp and Sumco Corp to brokerage Daiwa Securities are trimming costs to revamp their businesses.

Sony itself announced in December 2008 cuts of 16,000 workers after the global financial crisis hit demand for its electronics products, but it has not managed to make a profit since then.

As of end-March 2011, Sony had 168,200 employees on a consolidated basis, according to its website. click here to read more