Monday, April 9th 2012
Sony Will Cull 10,000 Jobs By The End of 2012, Seeks Return of Executive Bonuses
Nikkei, Japanese business daily, today reported Sony to be working on a new round of restructuring that will see about 10,000 job losses (6 percent of its global workforce) by the end of 2012. Suffering heavy losses, the firm has also sought the return of bonuses of its seven executive directors, including Chairman Howard Stringer. Sony is expected to culminate a loss of US $2.9 billion by May, when it releases its annual report. A company representative told The Verge that this report is only a Nikkei story, not an announcement from Sony, and that the company has no comment at the moment.
Sources:
Reuters, The Verge
15 Comments on Sony Will Cull 10,000 Jobs By The End of 2012, Seeks Return of Executive Bonuses
The workforce below just does what execs say, so why should they get sacked first? Should be the other way around. Maybe then, they'll start thinking a bit and not just pulling loads of money with nearly no responsibility. Coz if things go south, they just sack some more ppl below. Not nice.
I teach technical analysis. Usually for free...:)
Liquid Cool
And Sony is denying the cuts.
Mr LiquidCool, I have a question for you: Now that the US jobs data is worse than shit, but Gold only just moved to neutral position at about 1640-1650, from a technical analysis point of view how would you set up a trade? (all 1 day) RSI at about 50%, MACD 12,26 flat, price halfway between the downwards sloping resistance and the bears 1600 target, and its also within 20 points to SMA 20. Also, Bollinger 20,2SD is closing in, suggesting a largish price movement within this week. Is it
a) buy
b) sell
c) hold?
Keep in mind that Gold only recently moved out of lockstep with S&P/DJIA?NDAQ, but we still haven't returned to the "normal" pattern yet.
Go!
(you were asking if you buy sell or hold gold or sony? short sony for the next 3 days, then change)
btw, i think techical analysis is boring, I used to stare at 5 monitors everyday tryingto figure things out, then i realized, I should switch to psychological analysis because the market is just a collections of peoples feelings.
Reminds me of the 2008 economic dive......dammit we're bankrupt..........let's ask the gov for a bailout.....good idea..................well ok here is 125 million, now get the business up and running again....................sweet exec bonuses all around..........umm govment we has no monies left for the company
Epic Fail
Sony has learned the hard way that there is no a single all-mighty corporation, not even Apple will remain powerful if bad decisions are made and if chiefs rest on laurels too long.