The Telegraph
Since 1st March, 1999
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Sony plans to cut 20,000 jobs over three years

Tokyo, Oct. 20 (AFP): Japanís Sony Corp plans to cut 15,000-20,000 jobs or about 10 per cent of its global workforce by the end of March 2006, as it pulls out from unprofitable operations.

Sony will also cease domestic production of cathode-ray tubes for television sets by the end of next year, the Nihon Keizai Shimbun reported, without citing sources.

Sony will announce the moves on October 28 when it unveils new structural reform plans to be completed by the end of March 2006. It plans to make the job cuts from the global workforce of 160,000 by inviting early retirement and curbing hiring, the paper said. Sony is considering cutting 1,500-2,000 payrolls on a parent-only basis, it added.

It intends to pull out of unprofitable and non-strategic operations, which account for more than 10 per cent of its business areas exceeding 100. Sony decided to withdraw from domestic production of TV tubes because demand for conventional TVs is expected to decline.

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