Friday, April 13, 2012

Sony sheds 10,000 staff in major reorganisation

Electronics firm Sony is to shed 10,000 jobs as part of a major reorganisation, chief executive Kazuo Hirai has said.
The cuts, which represent 6% of the global workforce, will be made over the next 12 months.
The reduction includes staff working in businesses that are being sold, such as its chemicals division.
Sony has been struggling to compete in the television business with South Korea's Samsung and LG, while Apple has challenged it in audio gear and phones.
On Tuesday, Sony forecast a record annual loss of $6.4bn (£4bn), double its previous estimate. Its share price has fallen 40% over the past 12 months.
Entrepreneurial spirit
Sony says it will focus its business on three areas - digital imaging, games consoles and mobile devices.
It hopes the changes will help to generate sales of $10.5bn by the financial year ending in March 2015, with a profit margin of 5%.

Techno Nigeria

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