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Sony-Ericsson calls time on another 2,000 jobs

Tosh cuts staff, forecasts

Internet Security Threat Report 2014

Struggling mobile maker Sony-Ericsson is cutting another 2,000 jobs as the recession continues to bite.

The handset maker expects to spend €200m on redundancy payments to those staff. It has already laid off 2,000 people at a cost of €187m, less than the €300m expected.

Results for the last quarter showed a 35 per cent fall in handset sales to 14.5m units.

The company saw its market share fall two per cent to 6 per cent. It expects the worldwide handset market to shrink by at least 10 per cent compared to last year. Sales for the first quarter of 2009 were €1.74bn compared with €2.7bn in the first three months of 2008. It made a net loss of €293m compared to a profit of €133m in the first quarter of 2008. Average selling price is down slightly - €120 versus €121 in Q1 of 2008.

Toshiba is also cutting contractor jobs and restating estimates for the full year. The company expects net sales of Y6.65tn (£452.7m) versus previous estimates of Y6.7tn (£456.3m).

Tosh expects to make a net loss of Y350bn rather than the Y280bn previously predicted.

The company will cut 3,900 contractor jobs in Japan. ®

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