Sony Japan Laying Off 2,000 Employees - NewsWilliam D'Angelo, posted on 19 October 2012 / 11,013 Views
Sony announced today they will be laying off 2,000 employees in Japan via "early retirement," according to The Next Web. The layoffs are expected to hit the PlayStation manufacturer's head office the hardest. 20 percent of the employees will be laid off by the end of the year. The lay off is going to save the company $378 million annually starting in 2013.
This layoff is in line with the plan that was laid out earlier this year when the company announced that it would layoff 10,000 employees, which includes 3,000 to 4,000 in Japan. The restructuring program is expected to cost $945 million.
The restructuring program includes more than just slashing budgets and laying off employees. Sony spent $644 million on Olympus, that will combine the companies camera technologies, as well as focusing on the medical imaging industry.
Sony's gaming division has also been affected by the restructuring. Sony has closed in Liverpool studio in the UK, as well as Zipper Interactive and BigBig Studios.
Sony had also sold off its chemical productions business in June for $730 million. The company in August announced that it would lay off 1,000 jobs from its handset division, which is being relocated to Japan from Sweden.
Sony in its most recent financial report posted a loss of $310 million, which is an increase from $195.3 million during the same period the year before.