Sony to Cut 8,000 Jobs

From DailyTech: Sony announced it will cut its electronics workforce by 8,000 over the next two years while also shutting 10 percent of its worldwide manufacturing sites.

The Japanese company hopes to trim $1.1 billion in costs while cutting the jobs from now until April 2010. It's uncertain which countries would be hardest hit, though it is likely locations in the United States and Japan will suffer high job reductions.

Sony has 57 production facilities spread across the world, and additional shutdowns could take place in the future, analysts warn.

Analysts are unsure if the job reductions will be enough, as the company still has 186,000 employees worldwide. Furthermore, Sony will hold off expanding a LCD TV manufacturing plant located in Slovakia.

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