120410_Sony 25 Oct

According to a report from Reuters, Sony will be cutting down 20% of their staff at their Headquarters in Japan, and will be shuttering down a plant that creates camera lenses and mobile phones. This is due to their previously announced plan to cut down their global headcount by 10,000 by March of next year. It is estimated that this cut will save about 30 billion yen ($378.6 million) a year, a much needed turnaround from Sony’s recent reported losses.

Having taken the helm in April, Sony CEO Kazuo Hirai promised to bring back Sony to its peak by bolstering gaming, digital imaging and mobile devices as well as nurturing new business ventures such as medical devices. The marketplace has yet to share Hirai’s enthusiasm, as stocks have fallen 42% since Hirai was promoted back in February.

(via Reuters)

Report filed by Rakan Stanbouly