“Japan’s 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 looks to steer the electronics and entertainment giant back to profit after four years in the red,” Chris Gallagher reports for Reuters.
“The job cuts would be the latest downsizing in Japan Inc where companies from cellphone maker NEC Corp to electronics firm Panasonic Corp are trimming costs in the face of a strong yen and competition from rivals like Apple and [slavish Apple copier] Samsung Electronics,” Gallagher reports. “The Nikkei said it was not clear how many of the cuts would take place in Japan or overseas.”
Gallagher reports, “As of end-March 2011, Sony had 168,200 employees on a consolidated basis, according to the company’s website… Sony announced 16,000 job cuts in December 2008 after the global financial crisis battered demand for its products, but it has not managed to make a profit since then.”
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