Sony to eliminate 10,000 jobs globally: report
09 April 2012
Sony will eliminate 10,000 jobs globally this year as the loss-making Japanese electronics and entertainment giant attempts to revive its business after four years of losses, the Nikkei business daily today reported without citing sources.
The job cuts represent about 6 per cent of Sony's global workforce of around 168,200 employees.
The massive reduction of headcount comes after the Tokyo-based company had cut about 16,000 jobs worldwide during the global financial crisis in 2008.
Most of the current planned job cuts will come from its chemical unit as well as from its small and medium-sized liquid crystal display panels unit, the paper said.
The company will request its top seven executives, including its outgoing CEO Howard Stringer, to return their annual bonus, it added.
For the last three years, Sony, ranked 73 on the 2011 list of Fortune Global 500, has lost $5.1 billion mainly due to fierce competition- especially from Apple Inc, the maker of iPhone and the iPad.