Sony Slashes 10,000 Jobs Wordwide!

[Audioholics]

<A href="http://www.audioholics.com/news/pressreleases/SonyCuts10000jobs.php"><IMG style="WIDTH: 125px; HEIGHT: 78px" alt=[sonylogo] hspace=10 src="http://www.audioholics.com/news/thumbs/sonylogo_th.jpg" align=left border=0></A>Sony on Thursday announced a companywide restructuring plan that will result in the cutting of 10,000 jobs, the closure of 11 plants and the end of its existing network system by the end of fiscal year 2007. The world's second-largest consumer electronics maker said it expects to save $1.8 billion in the process as it refocuses its efforts on electronics, televisions, digital imaging, DVD recorders and portable audio. Of the 10,000 in job cuts, the company said it will slash 4,000 jobs in Japan and 6,000 jobs elsewhere.&nbsp;The cost-cutting measure is primarily hitting Sony’s hurting electronics division. But the eliminations are expected to bolster profits for the whole company, including other game and entertainment areas.

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[Rock&Roll Ninja]

Wow! Another staggering blow for Sony, which still hasn't recovered it's losses from the SACD fiasco (which must be in the hundreds of millions by now) among other bad business they've had since the turn of the millenium.

It looks like a world without Sony may happen before my children reach maturity if the company doesn't turn itself around soon.

 

[Audioholics]

We've always been dazzled by the lack of publicity on their ES line lately. I wouldn't be surprised if they all but left the consumer electronics market. In a sense they only have a token showing now and even their TVs were some of the least impressive at CEDIA.

If anything it serves as a lesson to me - never ride on your reputation if you want to stay on top!