wraggster
May 12th, 2012, 23:14
Sony's share value has plummeted following the company's announcement yesterday that it had lost £3.6 billion (http://www.edge-online.com/news/sony-hit-%C2%A336-billion-loss) over the prior fiscal year.
Stock value fell around seven per cent to ¥1,135 in Japan, while the US value fell two per cent to $15.37 - a 31- and 19- year low, respectively.
Sony pinned much of the blame for the financial loss on a series of natural disasters in Japan, and the strong Yen.
Newly appointed CEO Kaz Hirai is already preparing to axe 10,000 jobs worldwide (http://www.edge-online.com/news/sony-confirms-10000-layoffs) as part of a wider restructuring drive that aims to return the company to profit, a target Sony predicts it will hit at the end of the current fiscal year.
http://www.edge-online.com/news/sony-share-price-tumbles-us-and-japan
Stock value fell around seven per cent to ¥1,135 in Japan, while the US value fell two per cent to $15.37 - a 31- and 19- year low, respectively.
Sony pinned much of the blame for the financial loss on a series of natural disasters in Japan, and the strong Yen.
Newly appointed CEO Kaz Hirai is already preparing to axe 10,000 jobs worldwide (http://www.edge-online.com/news/sony-confirms-10000-layoffs) as part of a wider restructuring drive that aims to return the company to profit, a target Sony predicts it will hit at the end of the current fiscal year.
http://www.edge-online.com/news/sony-share-price-tumbles-us-and-japan