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Home » Featured, News

Sony plans on cutting 16,000 jobs

Submitted by on Tuesday, 9 December 2008One Comment

econ Sony plans on cutting 16,000 jobsTimes are hard for everyone these day, including big name companies such as Sony. World economies are slipping and, as a result, Sony has initiated a plan that will hope to save them more than 100 billion yen ($1.1 billion) per year.

The details of the plan include curbing investments, outsourcing production and moving away from unprofitable businesses by March 2010. Also included are 16,000 job cuts; the largest reduction announced by a Japanese company since the economy sent the world into a recession. 5 percent of Sony’s workforce (8,000 jobs) will be cut along with 8,000 part-time and seasonal workers. How will these cuts affect Sony’s game division? Read on to find out.

According to GameRush, Sony’s game division is expected to not be affected. Now this doesn’t necessarily mean that those there are safe. All it means is that Sony is focusing on other areas at the moment. Sony has stated that it will announce the financial effect of the measures in January when it reports fiscal third-quarter results.