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Sony 'plans to cut 10,000 jobs worldwide'

Sony 'plans to cut 10,000 jobs worldwide'
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Sony is to cut 10,000 jobs worldwide, Japanese newspaper The Nikkei reported on Monday.

The report did not specify how many of the cuts would be made in Japan or overseas.

Japan’s largest consumer-electronics exporter currently has 168,200 employees.

The technology giant has failed to make a profit since December 2008, when it made 16,000 layoffs.

Industry analysts say the firm is suffering from a slump in demand for its television sets and a stronger yen.

Intense competition from Apple and Samsung Electronics has also hit sales.

Sony has declined to comment on the story but new CEO Kazuo Hirai warned earlier this month that “painful steps” lay ahead to return the company to profitability.