Sony to cut off 10,000 employees
A Japanese business daily Nikkei reports that Sony’s going to cut 10,000 jobs globally by the end of the year. Many reasons have been put up for this decision – restructuring Sony’s chemical and small/medium LCD businesses, to efficiently accelerate the workflow, grow mobile devices business. The company had reported earlier a loss of $2 billion in Q3 of FY2011, and it expects $2.9 billion loss when FY2011 annual report would be released. Sony’s seven directors including the chairman Howard Stringer might be asked to return their bonuses provided in FY2011.
The cut off isn’t really a bad news for the company, as it visions to accelerate the group better than earlier. Anyway the report isn’t yet confirmed from Sony and the company might tell about this on 12th April at Corporate Strategy Meeting.