Japan's Sony is expected to cut almost 4 percent of its workforce, totaling to 8000. The cutting of jobs was due to the effect of financial crisis that likewise hit the electronic products.
The restructuring is a setback for Chief Executive Howard Stringer, who had implemented a major restructuring after taking the helm in 2005 and until recently seemed to have put the company on a recovery track.
It also underlines the grim outlook for Sony and its rivals during the year-end shopping season as the financial crisis grows into a broad recession that has already engulfed the United States, parts of Europe and Japan..
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