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Old 10-20-2003, 04:48 PM   #1
Pilotwings
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Shocked Sony to Downsize 20,000

Sony to Downsize 20,000

By Dennis Day, News Editor
Published October 20, 2003 Despite the continuing success of Sony's PlayStation 2, the company is expected to announce the elimination of thousands of employees in the coming months. According to a recently published report by the Nihon Keizai Shimbum, Sony will reduce their workforce by 12% or 20,000 employees as part of a global restructuring plan next year to cut costs.

Sony is reportedly under financial pressure following disappointing earnings in several segments of the company's business. As a result, the company is expected to slash production of several products including cathode-ray tube televisions and devote more resources to DVD recordable and flat-panel television production. Sony reportedly plans to hold a briefing for investors on October 28 to discuss their reorganization plans.
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Old 10-20-2003, 04:59 PM   #2
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Old 10-20-2003, 05:01 PM   #3
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As I mentioned before, while Sony's console is doing the best out of them all. The company is in the worst position out of the three. The PS2 accounts for quite a bit of Sony's income. They aren't in the rosey position some people seem to think. I told people that Sony had more to worry about then Nintendo or Microsoft did but they seemed to just write me off. Maybe this will get them to pay attention. It's nothing to get terribly excited over though, companies fall into hard times, and larger companies like this pull through. But maybe the next time people want to spell doom for Microsoft and Nintendo, they can look at how well Sony is doing.
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Old 10-20-2003, 05:12 PM   #4
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Wonder what will happend IF the psp and the "cell" fails!

Next Generation war should be interesting!

"The hammer that sticks up gets hammered down" as they say in Japan!

Don't mind me just thinking out loud!
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Old 10-20-2003, 05:28 PM   #5
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Hey Pilot, could you source this please so I can have some backing when I share the story?
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Old 10-20-2003, 05:53 PM   #6
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See it's there Electronic's business outside the PS2 that is suffering.
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Old 10-20-2003, 06:26 PM   #7
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Quote:
Originally posted by Reality
Hey Pilot, could you source this please so I can have some backing when I share the story?
It's true, I have know it since morning, I just didin't want to post it, they would flame me and call me a fanboy. Wonder why, you don't get further away from being a fanboy than me.

Anyway, here's the story.
http://www.reuters.com/newsArticle.j...toryID=3649939
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Old 10-20-2003, 07:19 PM   #8
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Cut tube TV production to favor flat-screen production for plasma TV's that cost as much as a nice used car? Smart (sarcasm). I've seen plasmas reach 10k easily, guaranteeing mst people won't be buying them any time soon, and many who did (like a friend of mine) are in debt up to their eyeballs and the interest payments alone add another couple of thousands of $$'s towards paying one off through financing. With this mentality, it's not hard to imagine them still losing money in the future.
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Old 10-20-2003, 07:28 PM   #9
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Sony's stock is up 0.45, hitting a low at noon. Closed at 37.85. This year, the stock has been slumping, hitting it's low in April, but since then, it has been rising steadily.

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Old 10-20-2003, 08:28 PM   #10
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Used to be a time when Sony walkmans, Discmans, TVs and DVDs were top notch. Nowadays msot of what you are paying for in a sony product is the name of the brand. Theres better electronics manufactureres out there for less cash, and consumers arent stupid.

ITs no surprise that the PS2 is the only thing keeping Sony afloat. :p
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Old 10-20-2003, 08:53 PM   #11
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Quote:
Originally posted by Zod
Cut tube TV production to favor flat-screen production for plasma TV's that cost as much as a nice used car? Smart (sarcasm). I've seen plasmas reach 10k easily, guaranteeing mst people won't be buying them any time soon, and many who did (like a friend of mine) are in debt up to their eyeballs and the interest payments alone add another couple of thousands of $$'s towards paying one off through financing. With this mentality, it's not hard to imagine them still losing money in the future.
Not to mention I be warned not to buy them, saying their life spam is pretty short for a costly TV.

Quote:
Originally posted by Seska
Used to be a time when Sony walkmans, Discmans, TVs and DVDs were top notch. Nowadays msot of what you are paying for in a sony product is the name of the brand. Theres better electronics manufactureres out there for less cash, and consumers arent stupid.

ITs no surprise that the PS2 is the only thing keeping Sony afloat. :p
I buy a Panasonic any day over a Sony. What Panasonic products I own have been really great in their quality.
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