Japan's Sony Corp. said it would close an audio equipment plant in Indonesia by March, cutting around 1,000 jobs as part of a reorganization of its international audio equipment production worldwide. Sony spokesman Gerald Cavanagh said the move was also partially aimed at raising efficiencies to respond to tough competition from China.
"The overall consumer electronics market is very competitive at the moment...so certainly under those very competitive conditions we've had to take another look at how we organize audio production," Cavanagh said. (Reuters)
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