Just a few days back we heard Yahoo lying off jobs and now Sony Corp has also announced cutting 10,000 jobs globally, that figure contributes to the 6% of its total workforce.
World business climate has become very hard to fathom and controlling it is even harder. Sony has faced a fierce competition on its home soil from the Apple and Samsung. Not only the Japanese company, also, NEC, Panasonic, and Sharp are feeling the increasing heat of boiling competition. Prices are coming down and expectations of consumers are going up every day, and in order to live up to their hopes manufacturers are confronting tough situation ahead.
Newly appointed CEO of Sony, Kazuo Hirai, is hoping to bring Sony back to its profitable position.
The electronics maker said that half of its recent round of job cut would come into effect in its chemicals and small and midsize LCD operations. Sony has already merged its Sony Mobile Display Unit with Toshiba and Hitachi. The merger with Ericsson has also been demolished.
Back in December 2008, Sony announced the 16,000 job cuts after the economy was battered worldwide.
Financial crises are taking, not only medium and small firm, the giants of one day by their throats and choking their profits to death. It’s the survival of fittest today.
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