katebailey

Regardless of being one of the most significant names in electronics, Sony has been publishing enormous losses for four years running. The company has announced that it is anticipating a quarterly loss of almost $3 billion and is firing 10,000 workers. The effects of natural disasters that hit Japan as well as the massive flooding in Thailand, affects Sony's manufacturing that leads to tremendous losses at the end of 2011 and the fiscal year that has just ended. In addition to that, its chemicals operations which are being sold to the Development Bank of Japan, Sony is also going to reduce its workforce by 6 percent, or 10,000 people. There are several top executives that are also being asked to return bonuses, according to MSNBC. Article Source: 10K workers to get pink slips in Sony layoffs.