Previous reports by Reuters noted that Sony Corp would be posting a 100 billion yen annual operating loss -- its first loss in 14 years. Unfortunately for the electronics giant, Reuters reported today that estimates are now placing the loss at 260 billion yen, or $2.9 billion for the year to March. Apparently, Sony Corp will be bolstering its restructuring plans in order to cut costs, including curbing investment, closing several plants and cutting 16,000 regular and contract jobs.
According to Reuters, Sony Chief Executive Howard Stringer commented on the recent news in a Thursday conference: "While these are extremely challenging times, we must be fully prepared to embrace the opportunities that await us once these dark economic clouds begin to part," Stringer said.
source
things are not looking good for sony.
Sony Greater Loss than Expected
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