Citing "sudden and rapid changes in the global economic environment," Sony announced Tuesday it would cut 8,000 jobs. The company says the move, along with the closing of some manufacturing sites, will result in a savings of more than $1 billion per year. According to The New York Times, "About 10 percent of the company's 57 plants will be shut, including two overseas sites, and plans to expand a site in Slovakia where LCD televisions for the European market are assembled have been delayed." Shares were up nearly 4 percent after the news.
Unlock a year of full access to The Daily Beast for $35.
Monthly
$1
First monththen $5.99/month
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $5.99 monthly. Cancel anytime
Annual
$35
First yearthen $59.99/year
Discounted annual rate - Save 47%
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $59.99 yearly. Cancel anytime
Best Value
Premium
$79
First yearthen $119.99/year
Discounted annual rate
Full access to the Daily Beast Substack ($60 value)*
Premium ad-free reading
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $119.99 yearly. Cancel anytime
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Subscription$0.00
Total$0.00
OR
Loading subscription options
Register below to read this article for free or subscribe to unlock unlimited access to The Daily Beast.
Monthly
$1
First monththen $5.99/month
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $5.99 monthly. Cancel anytime
Annual
$35
First yearthen $59.99/year
Discounted annual rate - Save 47%
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $59.99 yearly. Cancel anytime
Best Value
Premium
$79
First yearthen $119.99/year
Discounted annual rate
Full access to the Daily Beast Substack ($60 value)*
Premium ad-free reading
Unlimited access (web + app)
Exclusive ad-free newsletters
Commenting access
Daily crossword
Sneak peek of launches & events
Auto-renews at $119.99 yearly. Cancel anytime
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.