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Sony Financial Results Lower Than Expected, More Layoffs Expected

by Rainier on Jan. 22, 2009 @ 9:59 a.m. PST

In Dec. 2008, Sony announced that it would lay off 16,000 employees, cut back on investments, close several of its manufacturing plants, and pull out of businesses as it is looking to cut $1.1 billion. Unfortunately, that does not seem to be the end of the bad news as Sony has just revised its earning estimates and is now expecting to lose $2.9 billion instead. As a result, it plans further layoffs in electronic, pictures, music and gaming divisions, and it will restructure and close manufacturing plants.
In Dec. 2008, Sony announced that it would lay off 16,000 employees, cut back on investments, close several of its manufacturing plants, and pull out of businesses as it is looking to cut $1.1 billion. Unfortunately, that does not seem to be the end of the bad news as Sony has just revised its earning estimates and is now expecting to lose $2.9 billion instead. As a result, it plans further layoffs in electronic, pictures, music and gaming divisions, and it will restructure and close manufacturing plants.
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