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Sony to Cut 5% of Global Workforce

9 Dec, 2008 By: Chris Tribbey

Sony Corp. announced Dec. 9 that it will slash 8,000 full-time jobs, or about 5% of its global workforce, and another 8,000 seasonal and part-time positions are on the chopping block as well.

There was no word on whether the cuts would hit Sony Pictures or Sony Pictures Home Entertainment. Sony made the announcement after the Tokyo stock market closed. It included a goal of cutting annual costs by more than $1 billion, according to numerous media reports.

The company also announced a 30% cut in investments into its electronics business, as well as the closure of about a half dozen manufacturing plants worldwide.

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