CanBanc Income Corp CKNBF

Sony cuts 8000 jobs....

[frugal18]

Time for Sony to say "UNCLE"....settle the lawsuit, get on with life, and purchase Certicom's Key Inject system to take some of the worry out of outsourcing........Good for Longs

Sony cuts 8,000 jobs amid global downturn

YURI KAGEYAMA

The Associated Press

December 9, 2008 at 7:58 AM EST

TOKYO — — Sony is slashing 8,000 jobs, or 4 per cent of its global work force, aiming to cut costs by $1.1-billion (U.S.) a year as an economic downturn and a stronger yen batter profits at the Japanese electronics maker.

Sony Corp., which has 185,000 employees worldwide, said Tuesday it will complete the job cuts — all in the electronics sector — by the end of March 2010.

The company will close several plants, including one in Dax, France, cut investment in electronics and outsourcesome work. The moves will deliver more than 100-billion yen in savings a year by March 2010, the company said.

https://www.theglobeandmail.com/servlet/story/RTGAM.20081209.wsony1209/BNStory/Business/home