Sony is likely to cut around 10,000 jobs-India News and Travel Times Provides India-centric and other News and Features

Embattled Japanese electronics giant Sony is likely to slash around 10,000 jobs worldwide over the next year as it tries to return to profit. According to a Japanese media report, the firm is attempting to carry out sweeping reforms, which would result in six percent of its global workforce being cut as it struggles with weak TV sales and swelling losses. The Nikkei newspaper reported that about half of the job cuts would come from Sony's restructuring of its chemical unit. Sony is also merging its liquid crystal display (LCD) panel operation with Toshiba and Hitachi, The Telegraph reports. The jobs cuts come after Sony shed its Welsh-born US chief executive Sir Howard Stringer, who was replaced by his protégé Kazuo Hirai. According to the paper, the firm's top seven executives are understood to be giving up their annual bonus.

Sony to axe 10,000 jobs worldwide