The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
20,000 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59076.
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