Sony’s 2008 Losses May Amount to $1.1B
January 14th, 2009 Posted in Business by Rajiv Ashrafi
2008 may have been the year of the PlayStation (well, at least, according to Sony), but it wasn’t a very good year for the parent company, as Reuters is reporting that Sony’s yearly losses may amount to $1.1 billion by the time its 2008 fiscal year ends in March.
If the report is correct, the loss would be the first in 14 years of operation for Sony. The blame can be put on the gloomy economic recession for which Sony recently announced plans to slash its workforce by 16,000.
The publication speculates that the PlayStation manufacturer will need to adopt more drastic tactics if it posts a loss of that magnitude. This includes the firing of additional workers and the sale of its financial unit, among other things.
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