Sony plans to lay off 16,000 workers

[TheHeathen]

http://news.cnet.com/8301-1001_3-10147902-92.html?part=rss&subj=news&tag=2547-1_3-0-20

Consumer electronics giant Sony warned Thursday that it will record a $2.9 billion operating loss this year, its first annual loss in 14 years.

The company, which blamed the loss on sliding demand for its products and a stronger yen, said it will detail plans to restructure late Thursday, according to a Reuters report. The warning follows reports Wednesday that Sony plans to close two television factories in Japan and shed 2,000 jobs.

Sony also said it expects to post a net loss of $1.65 billion in the fiscal year ending March 31. In October, the company predicted a $1.65 billion profit.

The company announced in December that it plans to lay off 8,000 workers in its electronics business worldwide as part of a broader plan to trim expenses and tighten its focus in a difficult financial climate. Sony, which currently has a full-time global workforce of 160,000, also said it plans to eliminate an additional 8,000 jobs, mostly contract workers and temporary employees.

[louis-t]

1. Jeez, when does it end?

[Divine Discontent]

2. when about 20 million jobs are lost... how many does that make just TODAY? Microsoft announced,

surely there's more. The numbers for January are going to be staggering. Time to tighten the belt even more, but you can't spend what you don't have. I paid off my credit card bill (only 250 limit) and they blocked me from having the credit back for 10 days, that's a FIRST. I wrote them, and they said that's a normal hold, no it's not - never happened before.

[Submariner]

3. I wouldn't want to live in Richmond, VA right now

it was the headquarters of Circuit City, so Richmond must be taking a big hit. Bush's legacy.