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Sony “to cut 10,000 jobs worldwide”

Reports emerging from Japan say that the company will cut the jobs over the next year as it tries to return to profit.

Image: AP Photo/Itsuo Inouye, File

SONY CORP WILL cut about 10,000 jobs worldwide over the next year as it tries to return to profit, Japanese news reports said today.

The Nikkei business daily and other media said Sony’s decision to slash 6 per cent of its work force comes as it struggles with weak TV sales and swelling losses.

Reuters reports that new CEO Kazuo Hirai wants to bring the electronics giant back into profit after four years of difficulties.

Earlier this year, the company reported a 159 billion yen ($2.1 billion) loss for the October-December quarter and more than doubled its projected loss for the full fiscal year through March 2013.

Sony spokeswoman Yoko Yasukouchi wouldn’t confirm the reports of the job cuts but Hirai is to hold a press conference on Thursday.

Sony has announced restructuring plans by selling its chemical unit. The company is also merging its LCD panel operation with Toshiba and Hitachi. Yasukouchi said those changes could affect up to 5,000 employees who are subject to transfers.

- Additional reporting AP

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