There was no immediate word on how many jobs the Sony Corporation will be cutting stateside as a result of their mass layoff announcement today. Here is MarketWatch with the story:
Sony Corp is planning to cut its worldwide workforce by about 10,000, or by 6%, with the layoffs coming by the end of the year, according to a report in the Nikkei newspaper on Monday. Seven senior managers, including Chairman Howard Stringer, are expected to give up their bonuses for fiscal 2011, the Nikkei said. Sony reported a net loss for the recent fiscal year ended in March, dragged in part by a poor performance at its LCD television unit, with the earnings result marking its fourth straight loss-making year.The story also contained more proof that the stock market has gone completely insane:
Sony's shares, which fell 3% earlier in the day, rebounded as much as 1.5% following the report. The stock ended the day 0.6% higher.Yep...because there is nothing like having your potential customer base reduced by 10,000 to boost those sales of useless LCD televisions.
This is very bad news, Sony dont think to increase quality product while they are re thinking to cut the jobs.
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