Sony Will Cull 10,000 Jobs By The End of 2012, Seeks Return of Executive Bonuses

Nikkei, Japanese business daily, today reported Sony to be working on a new round of restructuring that will see about 10,000 job losses (6 percent of its global workforce) by the end of 2012. Suffering heavy losses, the firm has also sought the return of bonuses of its seven executive directors, including Chairman Howard Stringer. Sony is expected to culminate a loss of US $2.9 billion by May, when it releases its annual report. A company representative told The Verge that this report is only a Nikkei story, not an announcement from Sony, and that the company has no comment at the moment.