KnackChap Posted December 9, 2008 Report Share Posted December 9, 2008 Sony to cut 8,000 jobs, slash $1.1 billion in costs Dec. 9 (Bloomberg) -- Sony Corp., the world’s second-largest maker of consumer electronics, said it will cut 8,000 jobs and reduce investment in electronics as an “acute downturn” in the economy hurts profitability. The company aims to save more than 100 billion yen ($1.08 billion) a year through steps including investment curbs and cuts or withdrawals from unprofitable businesses, Tokyo-based Sony said today. The jobs will be lost from its electronics division and are equivalent to 5 percent of the unit’s workforce, Sony said. The company said it will announce the financial impact of the measures in January. “These initiatives are in response to the sudden and rapid changes in the global economic environment,” Sony said. Sony rose 3.9 percent to close at 1,896 yen on the Tokyo Stock Exchange before the company’s announcement. http://www.bloomberg.com/apps/news?pid=206...&refer=home Link to comment Share on other sites More sharing options...
MarketTantrik Posted December 9, 2008 Report Share Posted December 9, 2008 Sony to cut 8,000 jobs, slash $1.1 billion in costs The company aims to save more than 100 billion yen ($1.08 billion) a year through steps including investment curbs and cuts or withdrawals from unprofitable businesses, Tokyo-based Sony said today. Uh oh Link to comment Share on other sites More sharing options...
Bulovski Posted December 9, 2008 Report Share Posted December 9, 2008 And the year of the PS3 will never come Link to comment Share on other sites More sharing options...
Falcon Posted December 9, 2008 Report Share Posted December 9, 2008 Cutting jobs is happening almost everywhere. I think companies are taking the recession as an excuse for everything Link to comment Share on other sites More sharing options...
HundredProofSam Posted December 9, 2008 Report Share Posted December 9, 2008 And the year of the PS3 will never come wasnt that this year? peace Link to comment Share on other sites More sharing options...
KeezNah Posted December 9, 2008 Report Share Posted December 9, 2008 wasnt that this year? Yes, if you're a PS3 owner, but no if you also happen to work for Sony Someone remind me again why video games are "recession-proof"? Link to comment Share on other sites More sharing options...
HundredProofSam Posted December 9, 2008 Report Share Posted December 9, 2008 hold your horses, people! there is no mention of playstation division in this article....sony is a big company peace Link to comment Share on other sites More sharing options...
Falcon Posted December 9, 2008 Report Share Posted December 9, 2008 hold your horses, people! there is no mention of playstation division in this article....sony is a big companypeace I totally agree +1 Link to comment Share on other sites More sharing options...
KeezNah Posted December 9, 2008 Report Share Posted December 9, 2008 But, Sam! Video games! Internet! Message Boards! Feverish bellicosity! If someone doesn't jump to conclusions, who will?! Link to comment Share on other sites More sharing options...
MarketTantrik Posted December 9, 2008 Report Share Posted December 9, 2008 hold your horses, people! there is no mention of playstation division in this article....sony is a big companypeace Loss making and Playstation go hand in hand nowadays Link to comment Share on other sites More sharing options...
Noctis Posted December 9, 2008 Report Share Posted December 9, 2008 Loss making and Playstation go hand in hand nowadays They still profit from software sales. Besides the article says electronics division and Sony makes plenty of other electronic appliances. Link to comment Share on other sites More sharing options...
Keyofx Posted December 9, 2008 Report Share Posted December 9, 2008 hold your horses, people! there is no mention of playstation division in this article....sony is a big companypeace Update: Sony Computer Entertainment - the PlayStation division of the Japanese giant -will face review along with the rest of the company. "In order to stay competitive in the accelerating global network environment, we will always carefully review and make structural changes, if necessary, in order to further expand and strengthen the PlayStation business around the world," SCE told GamesIndustry.biz in a statement. Despite the large number of staff on the chopping block, analysts believe the cuts will not be enough, and foresee each arm of the Sony family having to prove profitability in order to maintain staff. Source Nothing too drastic, I'm sure. Gaming is practically recession proof. SO FAR, that is. *crosses fingers* Link to comment Share on other sites More sharing options...
kunallkw Posted December 9, 2008 Report Share Posted December 9, 2008 damn recession is killing :cry5: .... worst nightmare = marketing for slim sauna belt Link to comment Share on other sites More sharing options...
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