Sony taking measures to turn things around
Posted Apr 9, 2012 7:51 am.
This article is more than 5 years old.
Sony’s new CEO Kazuo Hirai has warned painful steps will be taken to turn the company around following four money losing years in a row.
The money losing electronic company is getting ready to eliminate about six per cent of its global workforce, which equals 10,000 jobs to start.
Analysts are saying it’s just a temporary fix for the company which has its credit rating downgraded by Moodys and Standard and Poors.
Sony has struggled against competition from Apple and others along with a strong value of the Japanese Yen and production problem.
Hirai is expected to elaborate on long term plans for Sony on Thursday.
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