Reports: Sony To Cut 10,000 Jobs Worldwide

Reports: Sony To Cut 10,000 Jobs Worldwide
by The Associated Press
April 9, 2012

Sony Corp. will cut about 10,000 jobs worldwide over the next year as it tries to return to profit, Japanese news reports said Monday.

The Nikkei business daily and other media said Sony's decision to slash 6 percent of its work force comes as it struggles with weak TV sales and swelling losses.

Sony spokeswoman Yoko Yasukouchi wouldn't confirm the reports.

New CEO Kazuo Hirai is expected to hold a news conference Thursday.

Sony has announced restructuring plans by selling its chemical unit. Sony is also merging its LCD panel operation with Toshiba and Hitachi. Yasukouchi said those changes could affect up to 5,000 employees who are subject to transfers.

Sony earlier this year reported a 159 billion yen ($2.1 billion) loss for the October-December quarter and more than doubled its projected loss for the full fiscal year through March 2013.