Sony to Cut 16,000 Jobs Dec 10, 2008

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Under a major restructuring plan, Sony said it will eliminate 16,000 electronics-related positions and save more than US$1.1 billion in annual operating costs.

The job cuts will be take place by March 31, 2010. The plan will also close 10% of Sony’s 57 production bases and cut another 8000 temporary and contract staff, among other measures.

The consumer electronics group also said that fiscal 2009 capital spending will be 30% less than outlined in its medium-term business plan.

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