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Report: Sony to slash 10,000 of global workforce

Posted: 11 Apr 2012 ?? ?Print Version ?Bookmark and Share

Keywords:job cuts? TV business? LCD businesses?

Sony Corp. is slashing 10,000 or about 6 percent of its global workforce, as reported by the Nikkei newspaper. According to the report, after four years of being in the red, CEO Kazuo Hirai is looking to steer back the electronics and entertainment company back to profit.

Around 5,000 jobs will be cut as Sony restructures its chemical and small and medium LCD businesses. The other 5,000 will be domestic as well as international cuts. This trimming down of workforce is meant to improve operational efficiency, while accelerating the company's shift toward mobile devices, the report said.

These job cuts will be the latest downsizing in Japan as companies are struggling to survive in the tough economic times and stiff competition from rival countries such as South Korea.

TV makers in particular have been hit hard by the business climate as well as sharp price falls. Sony, Panasonic and Sharp are expected to have a combined loss of $17 billion in the fiscal year that just ended.

Hirai took over the position of CEO of Sony just this month from Howard Stringer. Sony remains mum and has offered no comment at this time.

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