Sony to Shut Japan TV Plant, Cut Financial Forecast

From PC World: Sony will disclose on Thursday how a restructuring plan announced in December will hit its domestic operations in Japan, the Nikkei business daily reported Thursday morning.

Howard Stringer, CEO of the consumer electronics maker, will announce plans to close one of two domestic TV factories and cut around 2,000 jobs from its Japanese payroll, the newspaper said. Stringer will also announce a cut in managerial bonuses for 2009 and lower Sony's financial outlook for the current year, according to the report.

Sony's TV division has already been hit by the restructuring, which aims to cut 8,000 full-time workers and close five or six factories worldwide.

The Pittsburgh Technology Center, Sony's last remaining TV factory in the U.S., was tapped for closure in early December, and Sony also delayed plans to expand its Nitra LCD (liquid-crystal display) television factory in Slovakia.

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