12 Apr 2012

Sony preparing to retrench - report

8:33 am on 12 April 2012

Sony is reported set to slash the jobs of 10,000 people, about 6% of its global workforce.

The Nikkei newspaper says the job cuts will be announced on Thursday by new chief executive Kazuo Hirai who hopes to steer the electronics and entertainment company back to profit after four years in the red.

Japanese companies including cellphone maker NEC and Panasonic are trimming costs in the face of a strong yen and competition from Apple and Samsung.

TV manufacturers have been particularly hard-hit by the tough business climate, as well as sharp price falls. Sony, Panasonic and Sharp expect to have lost a combined $US17 billion in the past financial year.