Sony Loses $3 Billion in 2008, Worst Performance in 14 Years
Sony’s not doing so well right now, since it has just posted a massive $3 billion annual loss for 2008, 2 billion more than the analysts expected. It’s the first time in 14 years that the maker of the PlayStation consoles does so bad, as in 1995 its movie studio got hammered and the losses were pretty big.
How do deal with this crisis? Well, Sony’s going to lay off 16.000 employees till March 2010, trying to save $2.8 billion in operating costs. Also, they’ll cut salaries and benefits, close some facilities and start restructuring. Are they considering outsourcing to third world countries as well?
[via Boy Genius Report]