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• Sony announced that it plans to cut 8,000 full-time positions and 8,000 part-time and seasonal jobs, on he heels of slumping sales and a slowing economic environment in the U.S. The layoffs reportedly account for nearly 5% of the company's workforce.

  Sony also announced that it will be decreasing its investments in the electronic business by 30%. The total restructuring will result in a savings of a reported 100 billion yen. The announcement was made on December 8, 2008.MarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)

• Fast Facts

  1. Reason for cuts: increased supply of LCD screens, investments depreciation, economic slow-down in the U.S. and the surging value of the yenMarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)
  2. Restructuring of investments and layoffs may result in a savings of 100 billion yen
  3. Sony plans to close 10% of its manufacturing sitesMarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)
  4. The layoffs account for nearly 5% of its global workforceMarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)
  5. The company plans to reduce investments by 30%MarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)
  6. In October of 2008, the company reassessed its operating profit forecast by 47%MarketWatch: Sony to cut 8,000 jobs, close manufacturing sites (December 9, 2008)

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