Sony to cut 10,000 jobs
Nathan Layne writes for Reuters:
Struggling electronics and entertainment conglomerate Sony Corp. said on Thursday it would cut about 7 percent of its global work force, sell more than $1 billion in assets and post a loss this year.
With a restructuring plan that failed to excite some analysts, Sony hopes to reverse its fading fortunes and catch up with rivals such as Matsushita Electric Industrial and Sharp Corp. in flat TVs and Apple Computer and its popular iPod player in the portable music industry.
The inventor of the Trinitron TV and Walkman cassette player said it would book 210 billion yen in restructuring charges in the two business years through March 2007 as it closes plants and slashes 10,000 jobs.
posted by Fergie @ 9/22/2005 06:16:00 AM
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