Sony to axe 10,000 Jobs by the year end and slash Bonuses

Sony to axe 10,000 Jobs by the year end and slash BonusesAs result of the loss reached at $3.2 billion, Sony is reportedly about to axe 10,000 jobs, it is said to be precaution to avoid a further loss in the coming year. Sony had huge loss in 2011and now trying to avoid another loss in a consecutive year. The report says that the half of the job loses will be from Sony’s chemical unit and workers involved in small/medium LCD production.

The Sony’s president Kaz Hirai is expected to announce the job cut at a press event later in the week though ,  the Nikkei business daily reports that the Sony had declaimed to comment over the job cut. Sony is planning to cut 10,000 jobs by the end of the year and it will be six percent of his workforce.

The daily newspaper has also reported that the including  chairman Howard Stringer, 7 execs could lose their annual bonuses. Sony is reportedly expecting to increase the profit by by cutting the job and it is an attempt like what Nokia did by axing 4000 jobs targeting to optimize  production efficiency. Anyway, until a confirmation comes from the company, we couldn’t say  anything about the job cut.  Meanwhile,  the company is expected to be preparing the next-gen PlayStation, codenamed Orbis, for a potential launch in time for the 2013.


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