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Sony cuts costs, but not brand problems

Sony announced Tuesday it's cutting 5 percent of its full-time workforce, in addition to a sizable chunk of contractors, and delaying investment in some factories. It's all part of the Japanese electronics giant's plan to save money amid the troubled global economic environment.

The total annual savings will eventually amount to $1.1 billion by early 2010, the company says. But will it be enough? Sony's current struggles are well known, and it's not clear that cutting just 16,000 positions and a few factories is going to get the unwieldy behemoth back on track.

The company is huge, and it has had trouble finding cohesion among its brands and products. And with increased competition among all product categories, the Sony name just isn't the same as it was even five years ago.

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Nathan Drake3597d ago

Sony aren't paying CNET for adspace anymore,that's why they can't go a day without a negative Sony article

WANNA GET HIGH3597d ago

Is it just me or has they been too many articles about sony cutting cost been posted today........ :/

jaysquared3597d ago

actually it more like sony can't pay for ad space anymore. They can't advertise their games, can't advertise their game console or even their electronic products. I'm pretty sure if Sony had the money to they would be advertising at cnet.

n4gno3597d ago

Cnet = fox news.

infos, no, rumours and propaganda, yes.

butterfinger3597d ago (Edited 3597d ago )

I get that all of you children are in the middle of a p!ssing contest right now, but can we at least cut the CNet articles? I'm just going to report them as spam for now on since this site seems to be continuously flooded with them now. Most of these major companies are having problems right now, but this is a gaming web site. The Playstation isn't going anywhere anytime soon.

ultimolu3597d ago

Sony is dooooooomed I say, doooooomed! :o

/facepalm

Xbox Street Gang3597d ago

Sony is scaling back because of the falling Yen. It has nothing to do with bad business or anything of the sort. Some things will get cut to compensate, but a core business like PlayStation will remain untouched.

Sure they are still in the red with the PS3 but their software sales should definitely help alleviate those loses until Sony starts to break even next year.

Good day!

TOO PAWNED3597d ago

CNET, again? LOL 1 anti Sony article per day, how much did MS pay for that?

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