Executives stripped of bonuses
According to Japan’s Nikkei business daily, Sony is planning to cut as many as 10,000 jobs.
The unpopular move will also be followed by a pay cut for senior execs and seven top executives will also see their annual bonuses go down the drain.
The official announcement is expected later in the week. This is not the first time Sony slashed its workforce. Back in late 2008, the company eliminated 16,000 jobs.
Sony has seen better days. The company failed to adjust to new market trends and saw the likes of Samsung, LG and Apple eat away at its market share. Still, Sony has already started turning its TV business around, the next Playstation is coming next year and for the first time in years it will have a very competitive smartphone lineup. There might be some light at the end of the tunnel after all.