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Sony to Lay off 4% of Workforce

Posted by: Jonathan M, 06:56 AEDT, Wed December 10, 2008

Rough economic times and low demand for consumer electronics has caused Sony to cut 8,000 workers

Sony said it would slash 8,000 jobs, scale back investments, and pull out of businesses as it hopes to save over $1.1 billion in costs from its electronics division.

"For the first time in a long time, consumers actually think twice before they buy the new gadget or choose to upgrade their phone."

Sony is undergoing restructuring steps to overcome its slip behind Apple Inc's iPod in the portable music market and is struggling to make money on flat panel TVs.