Sony to cut 10000 jobs worldwide,demand its top execs give up their annual bonus
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Sony to cut 10000 jobs worldwide,demand its top execs give up their annual bonus

Tōkyō : Japan | Apr 09, 2012 at 1:40 AM PDT
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Sony's President Kazuo Hirai

Japan's top electronic maker, Sony is expected to cut 10000 jobs, or about 6 percent of its global workforce, by as early as the end of the year, according to a Nikkei newspaper on Monday.

The Nikkei said it was not clear how many of the cuts would take place in Japan or overseas.

Over the last four years Sony has made a loss each year, and now the company and its CEO Kazuo Hirai are looking to reduce their 168,200 employees by 10,000, the last time Sony did this was back in 2008 when it cut 16,000 jobs.

Sony President Kazuo Hirai, who officially took his post last week, is to address the media about his plans to turn the company around. Hirai will address a press conference on Thursday at Sony's Tokyo headquarters about his corporate strategy.

Sony may also request that its seven executive directors who served through the fiscal year to end-March, including Stringer, who is now chairman, return their bonuses, the Nikkei said without citing its sources.

Sony, valued at $200 billion in September 2000, now has a market capitalization of $20 billion, compared with $591 billion for Apple and $171 billion of Samsung.

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Kazuo Hirai, chief executive officer of Sony Corp
nazish7 is based in Auckland, Auckland, New Zealand, and is a Stringer on Allvoices.
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