It looks like Yahoo! has Sony for its friend when it comes to slashing jobs, with the Internet search giant saving up to $375 million by reducing their workforce by as many as 2,000 people. Sony has also decided that a reduction in the number of employees – to the tune of 10,000, to be exact, is the way to go when it comes to stemming their financial losses for the year ahead. This bit of news comes about by the Japanese business newspaper Nikkei and the Associated Press, and it is never a nice thing to read about.
10,000 people amounts to approximately 6% of Sony’s global , and half of the layoffs is the result of a reshuffling exercise that are connected to the LCD display business, in addition to consolidation of its midsize display and chemical businesses. Sony really needs to do something to stem the 2.1 billion dollar loss that occurred in the previous calendar quarter of 2011, so hopefully a more streamlined company can lead Sony back to profitability.