Sony to cut 10,000 jobs worldwide

Sony Corporation today said it will cut 10,000 jobs globally, slash the number of factories and cut costs by 200 billion yen (€1.46bn) in an ambitious restructuring bid to revive its stumbling electronics business.

The Japanese company – under new management since March – said it expected a group net loss of 10 billion yen (€74m) in the current fiscal year as the plunging prices of consumer electronics products had taken a hefty toll on earnings.