Gaming News: Sony To Axe 10,000 Employees

Sony are reportedly axing 10,000 jobs – or six per cent of their global workforce – with the company expecting a $2.7 billion dollar loss for the fiscal year just ended.

Half of these job cuts are to come from consolidating the corporation’s chemical and small-to-mid size LCD operations, according to Japanese news reports. Sony blame tough competition, falling prices, slow demand and – in particular – last year’s devastating floods in production hub Thailand, for their much worse than expected annual balance sheet.

This is the fourth year in a row that Sony Corp has posted a loss – though other Japanese electronics giants such as Panasonic have also been suffering of late.

An impressive 6.5 million PS3s, PS Vitas and PSPs were sold worldwide over the recent festive period, with the recently-launched PlayStation Vita shifting 1.4 million units as of last month. But these healthy figures have done little to sate the wider corporation’s financial woes.

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