Sony’s solution to financial crisis: layoffs
by Geoffrey.Cruz on 09/12/08 at 11:55 am
With the Dow Jones currently trying to recuperate and investor confidence at an all time low, many companies are trying to find solutions to their financial problems in order to stay afloat. Sony is one of those companies and they have recently announced their solution to their financial crisis: they plan to layoff 16,000 employees within the next two years. At the same time, they also plan to hold out on investments for the time being. With this plan, Sony will be closing down around 10% of their plants, but will be saving around 100 billion Yen, which equates to about $1.1 billion, every year. There are many multinational corporations that are also getting hit by the declining world economy. Samsung and Canon, to name a few, have been in discussion on how they will battle the slow economy. But one thing we can say is that these next few years, we’re going to have to squeeze everything we can out of every single dollar.
- Geoff
[Source: SlashGear]
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