Sony Ericsson to Cut 2,000 Jobs After $387M Loss
17 Apr 2009 | Financial , Sony Ericsson | 0 comments
Right after posting its first quarter financial results, mobile phone maker Sony Ericsson announced plans to cut about 2,000 jobs to reduce costs.
The company reported a loss of $387 million for the first quarter of 2009, making this the third consecutive quarterly loss for Sony Ericsson, which had a profit of $177 million in the same period last year.
Sales in the first three months went down by 36%, to $2.2 billion, from $3.5 billion in 2008, shipping a total of 14.5 million devices.
The 2,000 jobs will save the company about $520 million in operating expenses and should be completed by the second half of 2010.