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Sony Cuts 8000 Jobs

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TOKYO, Dec. 10, 2008 – In a bid to cut costs by $1.1 billion a year, Japanese consumer electronic giant, Sony Corp., is slashing 8000 jobs, or 4 percent of its global work force. Blaming the rapid deterioration in the global economic outlook and the strength of the Japanese yen, Sony, which currently employs 160,000 worldwide, has announced the closing of several plants, a cut in investments of electronics, as well as plans to outsource work. According to Sony, these moves will deliver more than $1.1 billion in savings a year by March 2010. These measures highlight the plight of the Asian economy, which began...Read full article

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    Published: December 2008
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    consumer electronicsDaiwa Institute of Research in TokyoEmploymentglobal economic crisisindustrialKazuharu MiuraLCD televisionsNaofumi HaraNews & FeaturesphotonicsPlaystation 3Sensors & DetectorsSony Corp.Sonys foreign incomeWalkman portable player

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