Sony confirmed today it would cut about 10,000 jobs worldwide this business year as the electronics giant aims to come out of its deep losses, dragged down by its ailing TV unit.
Unveiling a revival plan under its new chief executive, Kazuo Hirai, Sony said it aims to build up its digital imaging, games and mobile businesses, while seeking strategic investments in new areas such as medical equipment.
The proposed job cuts, whcih amount to about 6 per cent of Sony's workforce, had already been revealed earlier this week by the Nikkei newspaper.
The electronics firm forecast a record 520 billion yen net loss for the business year just ended, its fourth straight year of losses and double earlier forecasts, inflated by writing off deferred tax assets in the United States.
In a bid to ease investor concerns over its deteriorating bottom line, the Japanese consumer electronics giant said it would bounce back and make an operating profit in the current year of 180 billion yen.
Sony has been hammered by weak demand for its televisions and fierce competition from South Korean rivals such as Samsung Electronics.
Kazuo Hirai, who took over as chief executive this month, has promised to get the struggling TV business back on its feet within two years. That business alone has accumulated losses of $10 billion over the last decade.
Reuters
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