Sony To Cut 8000 Jobs

Guess Christmas will be a damper this year for at least 8,000 families who has a member working in Sony, with the reason given by the Japanese electronics giant that this move was made “in response to the sudden and rapid changes in the global economic environment.” The job cuts will come from halting production at a couple of manufacturing sites, including its Dax Technology Centre in France and an unnamed other. Another quartet of factories will also face the axe be March 31 two years from now. The 8,000 figure would mean 5% of the company’s worldwide workforce return home this Christmas with a glum face and a bleak outlook. Are job cuts the answer to an ailing economy?