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
Sony to Cut 10K Jobs
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)

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. (More Sony stories.)

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