Techno-News Blog

August 30, 2012

Sony’s mobile arm cuts 1,000 jobs in cost-saving move

Filed under: Uncategorized — admin @ 12:25 am

by the BBC

Sony has been struggling to compete with rivals Samsung and Apple Sony Corporation, the loss-making Japanese electronics and entertainment company, is cutting 1,000 jobs from its mobile phone division. Nearly two-thirds of the job cuts will fall on its Sony Mobile division in Lund, Sweden, the company said in a statement. The cuts form part of its previously-announced plan to reduce its workforce by 10,000 by March 2013. For the year to 31 March 2012, Sony made a record loss of $5.6bn (£3.5bn). And in August it reported net losses for the April-to-June quarter of 24.6bn yen ($314m; £202m), compared with a loss of 15.5bn yen a year earlier. As a result, Sony slashed its net income forecast for the year to 31 March 2013 from 30bn to 20bn yen. Sony blames the losses on slowing demand for TVs and a strengthening yen.

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