Sony set to swing axe on 10,000 jobs

Report by Japan-based Nikkei.com reveals vendor is considering cutting six per cent of its global workforce

Sony is reportedly axing 10,000 jobs, which equates to six per cent of its global workforce, according to an article on the Nikkei.com news site.

The cuts are allegedly being driven by new chief executive Kazuo Hirai, as he looks to steer the electronics and entertainment player, which currently employs about 168,000 people globally, back to profit.

The Nikkei said half of the latest round of job cuts would come from consolidating the firm's chemicals and small and mid-sized LCD operations, but it was unclear how many jobs would be lost in Japan and how many would be from its overseas operations.

It also revealed that Sony, which refused to comment, may ask its seven executive directors, including previous chief executive Howard Stringer, to return their bonuses.

In related news the Nikkei revealed that Sony expects to post a larger-than-predicted net loss of $6.4bn (£4bn) for the business year just ended, caused in part by its struggling TV business.

This will mark the fourth straight year of losses for the firm.

The last time Sony cut jobs was in 2008, when a total of 16,000 positions were axed.