Sony To Close Factories And Lay Off Workers

Posted: Dec 9 2008, 8:00am CST | by , Updated: Aug 11 2010, 12:09pm CDT , in Other Stuff


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With the global economy, things are tough all over. Even industry stalwarts like Sony are feeling the crunch of hard economic times. Sony has announced that it will close one of its factories in France as part of its savings plan.

The plan will see five of Sony's plants close by 2010. In addition to closing the factories, Sony will also cut 8,000 workers from its staff, reduce production, and delay investments.

The French plant that will be closed makes tape and other recordable media and Sony says that a planned LCD TV assembly plant in Slovakia has been postponed as well. Sony plans to reduce its investment in electronics business by 30% by 2010. Sony will also increase prices on its goods in Europe to make up for some of its losses.

Via The Register

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