Report: Sony i big financial trouble
January 5th, 2009 Posted in Business, News, PSP, PlayStation 3
UK’s Times Online are reporting that Sony might be in bigger trouble than originally assumed. According to the news outlet, the company is “on the brink of upheaval”, which could cause massive layoffs and management restructuring. Last month, Sony cut 16,000 permanent and temporary jobs worldwide, simultaneously expecting profits to be down 50% compared to last year. In hopes of cutting costs. Analysts now predict even more job cuts to further cut costs.
Sony released a short statement saying “We do not plan to announce additional restructuring measures at this time. We don’t have any such plan”. Analysts are betting the other way, though.