Sony

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
20,000 jobs
Number of planned job losses
Job loss
Announcement Date
21 October 2003
Employment effect (start)
1 October 2003
Foreseen end date
1 December 2006

Description

Sony announced a huge reorganisation plan affecting 20,000 jobs world-wide by the end of 2006, i.e. 13% of its total workforce. By 2004, two production plants should be closed in Japan, affecting 7,000 workers. The production plants in China, Japan and the rest of Asia will be redesigned, as well as the European units. The reorganisation plan - 'Transformation 60' in reference of Sony's 60th anniversary that will be held in 2006 - envisages a investment programme of Yen 335 billions over the next three years, in order to reduce their fixed costs of Yen 200 billions by the end of 2006.

Sources

  • 21 October 2003: Les Echos
  • 29 October 2003: Les Echos

Citation

Eurofound (2003), Sony, Internal restructuring in World, factsheet number 59076, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59076.