Sony to axe 10,000 jobs

ELECTRONICS conglomerate Sony has announced plans to cut around 10,000 jobs over the next year.

The cuts will come across the world as the company attempts to return to profit, Japanese news reports say.

According to local media, the decision to slash what amounts to 46 per cent of the company’s global workforce comes as it faces poor TV sales and increased losses.

Sony spokeswoman Yoko Yasukouchi would not confirm the reports.

New CEO Kazuo Hirai is holding a press conference on Thursday.

Sony has announced restructuring plans by selling its chemical unit.

Sony is also merging its LCD panel operation with Toshiba and Hitachi.