Monday, April 20, 2009

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Sony Ericsson to cut 2,000 more jobs

Sony Ericsson Mobile Communications Ltd, the mobile-phone venture of Sony Corp and Ericsson AB, said it will cut an additional 2,000 jobs to revive profit amid falling demand.

The measure will reduce costs by 400 million euros ($524 million) annually by mid-2010 and cost 200 million euros to implement, Sony Ericsson said in a statement. It follows a plan announced in July to slash 2,000 positions to save 300 million euros, which has been completed, and another unveiled in January to reduce costs by 180 million euros by the end of 2009.

Sony Ericsson reported its third straight quarterly loss today after it slipped to fourth place in global handset shipments at the end of last year. The London-based company has suffered as consumers snapped up touchscreen models from competitors such as Apple Inc with its iPhone.


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