10,000 Sony jobs cut as TV production slows 40%

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sony-thumb.jpgSony have confirmed rumours of major restructuring plans that will see 10,000 jobs lost and TV production slow 40%.

The news of job cuts was leaked last week, and now Sony CEO Kaz Hirai has confirmed that downsizing plans are in place, vowing that “Sony will change”.

It’s been a rough time for Sony of late, with a strong yen putting pressure on their exports, especially when compared to the growing Korean market. It’s lead to a forecast from Sony of losses of around $4 billion for 2011, meaning that the 6% cut in their global work force was somewhat inevitable.

Sony will now shift focus onto gaming, mobile and digital imaging sectors. In terms of gaming, more emphasis will be put on downloadable titles through the Sony Entertainment Network, while in the mobile sector Sony will “launch new mobile products and establish new business models”. Though they were less precise on their plans for digital imaging, it appear Sony may be looking to expand their reach into the medical sector.

Sony will still look to innovate in the TV market though, with the intention to advance the development and commercialization of next-generation display technologies such as OLED and Crystal LED Display”, as well as looking to expand its 4K offerings.

Gerald Lynch