Sony may cut 10,000 employees

Reports suggest that Sony are preparing to lay off 10,000 employees (roughly 6% of their workforce) in order to help the company out of their four years in debt.

The decision comes from new CEO Kazuo Hirai, who is looking to downsize Sony’s operations, similar to the moves of cellular company NEC Corp and electronic powerhouse Panasonic, who also trimmed down costs by cutting down departmental structures.

In particular, the television manufacturing divisions have struggled in recent months with the difficult business climat – Sony, Panasonic and Sharp will have lost a combined estimate of $17 million after the recent fiscal year-end.

Yuuki Sakurai, head of fund manager Fukoku Capital, stated that Sony should shift their focus away from the television production market in order to boost their market share and brand: “One of the things I’d like to see is that they shift their resources to other areas outside TVs … If they stick to TVs, they may have to fight a war they may not be able to win.”

Source: Reuters

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