Mobile phone manufacturer Sony Ericsson are the latest firm to announce worldwide job cuts as they look to recuperate losses incurred by the challenging global economic climate.
The firm announced that 2,000 jobs are to be culled as it looks to save £300 million per year on operating costs.
The credit crunch has mostly affected the firm’s primary markets: the UK; the US; and Japan. Less expendable cash in these regions has meant less mobile phone customers upgrading to Sony Ericsson’s latest models. To compensate, the firm said it has entered alternative markets but has had to introduce less costly models in those zones.
Chief Executive, Dick Komiyama, said: “We are aligning our operations and resources worldwide to meet an increasingly competitive business environment and to help restore our capability for profitable growth. The measures we are taking are aimed at becoming a faster, more agile and more cost efficient organisation that can continue to create innovative products that excite consumers.”