The economy sucks and now Sony is feeling the hurt. According to a report from Reuters, the PlayStation maker will be posting its first loss in 14 years to the tune of $1.1 billion. With a “B”.
It’s believed that because of the global economic downturn, Sony has stock piling up all over the world and have been forced to slash prices to accommodate the changing markets. More bad news is that Daiwa Institute of Research analyst Kazuharu Miura said, “I think there’s a good chance the company will further accelerate its restructuring from what has been announced in December.” Accelerating job cuts is never a good thing.
No word yet from Sony on the issue or what departments will be the first affected by the restructuring. We’ll keep you posted.
