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Sony to Cut 10,000 Jobs Worldwide

Japan's Sony Corp Sony Corp. will cut about 10,000 jobs worldwide over the next year as it tries to return to profitability.

Japan's Sony Corp. is cutting 10,000 jobs, about six percent of its global workforce, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red.

According to a report by The Associated Press, the Nikkei business daily and other media said Sony's decision to slash six percent of its work force comes as it struggles with weak TV sales and swelling losses.

Sony spokeswoman Yoko Yasukouchi wouldn't confirm the reports. New CEO Kazuo Hirai is holding a press conference Thursday.

Sony has announced restructuring plans by selling its chemical unit. Sony is also merging its LCD panel operation with Toshiba and Hitachi. Yasukouchi said those changes could affect up to 5,000 employees who are subject to transfers.

Sony earlier this year reported a 159 billion yen ($2.1 billion) loss for the October-December quarter and more than doubled its projected loss for the full fiscal year through March 2013.

Jennifer Wolfe's picture

Jennifer Wolfe is Director of News & Content at Animation World Network.