Sony eliminating 10,000 jobs as part of restructuring effort
The Nikkei is reporting that Sony will soon cut around 10,000 jobs from its global workforce, this will be the second time in recent years that Sony has had to make such job cuts. The previous reduction was back in December of 2008 when Sony cut 16,000 of its workers after the global financial crisis dealt a major blow to demand for its consumer electronics products, but those cuts must not of been enough as the Japanese company hasn’t been able to turn a profit in the last 4 years. Sony is currently expected to report a net loss of around US $2.7 Billion for its fiscal year that ended in March.
According to Nikkei, the job cuts will mostly be spread over management, development and manufacturing. The cuts come as part of a restructuring effort under Sony’s new president. The company is said to be refocusing on its core consumer electronics businesses such as video game consoles, computers, smartphones and tablets in an attempt to become profitable again.