Sony announces job cuts, plant closings

Manufacturing News, Source : TheManufacturer.com
Published : 22 Sep 2005 17:34

Japanese manufacturing giant Sony announced that it will cut some 10,000 jobs and close 11 plants, as part of a sweeping reorganization gambit to revitalize its electronics sector.

The plan would reduce Sony’s total worldwide work force by six percent. 4,000 workers would be cut from its Japanese operations, but the company did not specify which country’s operations would receive the remainder of the job cuts.

Sony also revised its profit forecast downward for the fiscal year through March 2006, to a net loss of $90 million—down from a former forecast of $90 million profit. Sony said it would downsize or quit 15 business categories and reduce its number of models by 20 percent.

The plan aims to cut Sony’s costs by $1.8 billion by March 2008. Sony currently employs more than 151,000 workers worldwide.

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