Restructuring Word Being Used At Sony
January 21, 2009 at 5:11 AM (PT)
SONY is expected to reveal its restructuring plans this week, which will impact its consumer electronics division, reports TECHWHACK.COM. The company had stated last month that they have to take some major steps to cut costs to stay competitive.
SONY is closing down six plants and cutting 16,000 jobs. The aim is to save $1.1 billion a year in costs.
Market analyst MITSUSHIGE AKINO commented, "SONY’s not in a position to halt all domestic [Japanese] production but it has to do something that drastic. If it announces plans to move production overseas while keeping only planning and development functions in JAPAN, that would be a positive."