India won't be affected, says Sony after report of 10,000 lay-offs

India won't be affected, says Sony after report of 10,000 lay-offs
New Delhi Sony Corp today said it does not have any manpower realignment plan for India in the "near future". This announcement was made amid reports in Nikkei of the Japanese consumer electronics giant trimming 10,000 jobs or about six per cent of its global workforce by the year-end to cut losses.

The report by Nikkei quoting unnamed sources had said that Sony's move to consolidate chemicals and small and mid-sized LCD operations will account for half of the job cuts.

The company's Indian arm said it is rather ramping up its head count in the country to meet growing demand.

"As far as India is concerned, Sony is witnessing a healthy growth rate and there is no realignment of manpower in the near future," said a Sony India spokesperson, adding, "The company is continuously increasing our manpower to match the growing business requirement of Sony in India."

On reports of the Japanese parent trimming the flab, the spokesperson said: "Sony has not announced specific details such as the job cuts, reported in some media today, and therefore we decline to comment."

According to its website, Sony Corporation has a total employee strength of 1,68,200 as of March 31, 2011.

For the third quarter ended December 31, 2011, Sony Corp's net loss stood at 159 billion yen compared to a net income of 72.3 billion yen in the year-ago period.

The company's sales and operating revenue also declined by 17.37 per cent to 1.82 trillion yen from 2.21 trillion yen in the third quarter ended December 31, 2010.

The decrease in consolidated sales was attributed to the impact of the devastating floods in Thailand, unfavourable market conditions in developed nations and adverse forex rates.

In February this year, the company had forecast a consolidated net loss of 220 billion yen for the financial year ending March 31, 2012.
Story First Published: April 09, 2012 19:33 IST

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