Tuesday, December 9, 2008

Sony to cut 8,000 jobs, close manufacturing sites

In addition to the layoffs, which account for about 5% of its global workforce, Sony said it will slash investments in its electronic business by 30% in the fiscal year ending Mar. 31 2010, withdraw from unprofitable businesses and step up outsourcing.

The moves, which include shuttering 10% of its 57 manufacturing sites worldwide, are intended to save more than 100 billion yen ($1.08 billion) in the next fiscal year.

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