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Monday, April 9, 2012

More signs of Global Economic Recovery - Sony to Axe 10,000 jobs

Blogman's Notes:

Sony is axing some 10,000 jobs globally; these soon to be unemployed factory workers and office workers must be thrilled to have the opportunity to be able to find rewarding careers serving Big Macs or Sushi since it is highly unlikely that new factory and office jobs will be opening up anytime soon in Japan or anywhere in the developed world for that matter. 

We welcome the Global Economic Recovery that has been in the News so much lately! In the NEW ECONOMY the recovery is supposed to be JOBLESS according to Harvard Economists, so maybe these 10,000 workers will not even need to look for jobs! And the Japanese electronics manufactures that lost $17 billion last year need not worry, the Bank of Japan is ready to launch another round of QE, maybe the Japanese Government will bail Sony and Panasonic and Sharp and the rest out with this newly minted money. The idea of running a business to make a profit is so 20th Century! Who needs profits when bailouts are all the rage in the 21st Century?
Sony to axe 10,000 jobs in turnaround bid: Nikkei
(Reuters) - Japan's Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, theNikkei newspaper reported on Monday, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red.

The job cuts would be the latest downsizing in Japan Inc where companies from cellphone maker NEC Corp to electronics firm Panasonic Corp are trimming costs in the face of a strong yen and competition from rivals like Apple and Samsung Electronics.

TV makers in particular have been hit hard by the tough business climate as well as sharp price falls, with Sony, Panasonic and Sharp expecting to have lost a combined $17 billion in the fiscal year just ended.

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