Sony Ericsson Plans to Issue 2,000 More Pink Slips this Year
Sony Ericsson posted a net loss of $387 million for the first quarter of 2009, its third consecutive quarterly loss. In response to falling sales, Sony Ericsson said it plans to cut 2,000 additional employees this year along with instituting other cost-reduction measures. Sony Ericsson already announced a work force reduction of 2,000 employees earlier this year. Sony Ericsson expects to save about $785 million by the middle of 2010 with the job cuts and restructuring efforts.
Ericsson to Dump Mobile Modem Biz
Ericsson today said it will cease to make wireless modems for mobile devices and cut about 1,000 jobs as a result. Ericsson cited fierce competition in the space as playing a role in its decision.
Qualcomm to Cut Jobs Amidst Cost Restructuring
Qualcomm today said it will pursue aggressive cost restructuring, including the elimination of jobs, as it seeks to balance its financials. Qualcomm indicated it plans to slash $1.4 billion in expenses through a number of different actions, including job cuts of about 4,500, or 15% of its work force.
Sony to Boost Smartphone Camera Sensor Production
Sony plans to make a large investment its in imaging business and will increase production of CMOS sensors for mobile devices. The company will spend as much as $345 million to improve the capacity of its sensor-making facilities.
Sony to Beef Up Camera Sensor Production
Sony said it intends to invest $376 million this year in order to increase its capacity to manufacture imaging sensors. The company currently makes about 60,000 wafers per month.