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Sony lays off thousands of workers

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Sony lays off thousands of workers

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Big job losses have been announced at the electronics and entertainment giant Sony. The company plans to cut back its workforce by about 10,000 over the next few years – about seven percent of its staff.

A total of 4,000 jobs will go in Japan, and the rest around the world. Sony will also sell or close down about 65 factories. The firm, which is struggling to keep up with competitors, is in the final year of a three-year restructuring plan The company has been trying to halt a slump in revenue, but has been hit by a big fall in prices, and less demand for its ageing TVs and CD Walkmans.