Sony to Cut 10,000 Jobs Worldwide (Hunter Lee)

4:36 AM PDT 4/9/2012 by Gavin J. Blair

Sony Execs Split - H 2012
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Stringer to give up bonus, according to local media report.

TOKYO – Sony will cut 10,000 jobs from its global workforce, according to a report in Japanese business daily The Nikkei.

Half of the cuts are expected to be accounted for by the disposal of the conglomerate’s chemical and midsize LCD operations, with the rest spread across the company, the report said, without citing sources.

There are no details as to whether the cuts will fall more heavily in Japan or overseas. Sony’s global workforce, including at subsidiaries, totals more than 168,000.

Sony is forecasting a 220 billion ($2.7billion) loss for the financial year that ended on March 31.Chairman Howard Stringer and six other executives will give up their bonuses to take responsibility for the red ink, according to The Nikkei.

Kazuo Hirai, who took over as president and CEO from Stringer last week, faces the challenge of returning Sony to the black after four straight years of red ink.

Hirai will brief analysts and the media on Thursday this week at Sony’s HQ in Tokyo on his strategy for turning the electronics to entertainments giant around.

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This blog and its accompanying Twitter account have been established as social media learning tools for the Internal Communications and Employee Engagement class at Columbia College Chicago. Through this blog, we will share our observations about current events, change management and employee communications theory, and the application of social media in shaping employee engagement.
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