Sony has announced plans to cut around seven per cent of its global workforce, amounting to almost 10,000 jobs.
The electronics giant will cut 4,000 jobs in Japan and 6,000 elsewhere, and will reduce the number of factories from 65 to 54 in a bid to realise more than £600m in real estate and other assets.
Sony is in the final 12 months of a three-year restructuring plan dubbed 'Transformation 60' under which it aims to cut fixed costs by rationalising production, streamlining procurement and slashing some 20,000 jobs in total.
Revenues have been hit by steep price drops and weakening demand for ageing products such as CRT TVs and CD Walkmans.
The moves are the first taken by Sir Howard Stringer, a US/UK dual citizen and Sony's first foreign boss, who was appointed chief executive in March.
Sony also plans to downsize or dispose of 15 business categories, and reduce the number of lines by 20 per cent.
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