Sony to Cut 10K Jobs

New CEO Kazuo Hirai reportedly trying to cut costs amidst weak TV sales
By Newser Editors and Wire Services
Posted Apr 9, 2012 6:58 AM CDT
Visitors try out head-mounted 3-D viewers at the booth of Japanese entertainment and electronics giant Sony Corp, in this Oct. 4, 2011 file photo.   (Itsuo Inouye)
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(Newser) – Sony will cut about 10,000 jobs worldwide over the next year as it tries to return to profit, Japanese news reports said today. The decision to slash 6% of its work force comes as it struggles with weak TV sales and swelling losses. New CEO Kazuo Hirai may announce the cuts at a press conference Thursday.

Sony has announced restructuring plans by selling its chemical unit. Sony is also merging its LCD panel operation with Toshiba and Hitachi. A spokesman said those changes could affect up to 5,000 employees who are subject to transfers. Sony earlier this year reported a $2.1 billion loss for the October-December quarter and more than doubled its projected loss for the full fiscal year through March 2013. (Read more Sony stories.)

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