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.
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