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The BBC reports today that Sony will eliminate 8,000 electronics jobs by April of 2010. That’s approximately 5% of the electronics giant’s workforce. Moreover, Sony will “cut its investment in electronic operations by 30% and shut down about 10% of its 57 production facilities.” Sony’s aim is to save about “100bn yen ($1.1bn; £730m) by the end of the next financial year,” in the face of a global economic recession. “The number sounds big, but this staff reduction won’t be enough,” said Katsuhiko Mori, a fund manager at Daiwa SB Investments. “Sony doesn’t have any core businesses that generates stable profits – the next thing we want to see is what is going to be the business that will drive the company.” In other words, “Jeesh!” and ” Ouch!” are in order.
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