by Simon Quicke9 December 2008
Sony has announced plans to cut 8,000 jobs worldwide and
withdraw from unprofitable markets in a reaction to the global downturn.
The electronics manufacturer made an announcement last night
that it would reduce its investment plans by 30% as part of a plan to cut $1bn
off the bottom line, which is going to include shutting factories as well as
letting staff go.
“Sony intends to adjust product pricing to mitigate the
impact of the appreciation of the yen, curtail or delay part of its investment
plans, and downsize or withdraw from unprofitable or non-core businesses.
Furthermore, Sony plans to realign domestic and overseas manufacturing sites,
reallocate its workforce and reduce headcount,” the company said in a statement.
The vendor said that there had been a rapid slowdown in
demand for televisions and it would postpone plans to build a LCD assembly
plant in Slovakia. It also plans to cease production at its tape manufacturing
plant in France.
“…by March 31, 2010, Sony plans to reduce headcount in the
electronics business worldwide by approximately 8,000, out of approximately
160,000 as of September 30, 2008. At the same time, Sony plans to reduce
headcount in its seasonal and temporary workforces,” the statement added.
