Sony Corp share fall after restructuring measures
By: Peter Chubb | December 10, 2008
Sony Corp shares have fallen by 1 percent today; this follows the announcement of the electronic giant’s restructuring measures. Sony aims to cut at least $1.1 billion of their costs, 16,000 jobs will go as well as scaling back on investment plans that are not making a profit.
Even though Sony Corp’s share prices fell by just 1 percent, it shows that investors are still concerned that the steps that Sony is taking are not enough to streamline the company. Sony Corp will have to do a lot more if they want to satisfy their investors.
Sony along with a number of other electronics makers are having a tough time with the slowing down of the economy, Christmas sales are normally the best time for these companies, but sales are being hurt, and a strong Yen is also cutting into the profit of these Japanese companies.
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