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Sony to axe 10,000 jobs worldwide

United Kingdom,Business/Economy, Mon, 09 Apr 2012 IANS

London, April 9 (IANS) Japanese technology giant Sony is axing 10,000 jobs or around six percent of its global workforce, a media report said Monday.


According to the Daily Mail, the decision follows the appointment of new chief executive officer Kazuo Hirai, who is under pressure to return the company to profit after four years of losses.


In December 2008, Sony had announced cuts of 16,000 workers after the global financial crisis hit demand for its electronics products. It has not managed to make profit since then.


Till March 2011, Sony had 168,200 employees worldwide, according to its website.


The company is expecting a loss of $2.7 billion for the fiscal year that just ended.


In February, the company blamed floods in Thailand for the more than double of its losses.


Thailand, where Sony produces much of its goods, was hit in October 2011 by its worst floods in 50 years. Monsoon rains killed more than 600 people and forced many manufacturers to stop production.


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