Sony to cut 8,000 jobs, save $1.1 Billion
By siliconindia   |   Wednesday, 10 December 2008, 16:19 IST   |    1 Comments
Printer Print Email Email
Tokyo: Sony has announced that it will be cutting 8,000 jobs which constitute five percent of its total permanent workforce and the rest from the part-time employees as a result of the global slowdown. Sony is said to cut jobs from its electronic operations which employs 160,000 workers by the end of 2010. It has still not given the country breakdown for the layoffs. Earlier, Sony had already cut production and lowered inventories. Sony will also end production at some plants, including one in France that makes tape and other recording media, and will continue moving electronics production to lower cost areas. Manufacturing sites will be reduced by about 10 percent from 57 percent. According to Sony, the new business plan is expected to deliver more than 1.1 billion in cost savings a year by March 2010. The company will also postpone a planned investment to boost production of liquid crystal display TVs in Slovakia because of a plunge in European demand for flat-panel TVs. The company will trim spending in semiconductors, and will outsource a portion of the production it had planned for image sensors for mobile phones.

siliconindia