Sony set to cut 20,000 jobs due increased competition, also on DVD recorders

October 20, 2003

Ananova reports that Sony is set to cut 20.000
jobs worldwide. The company is facing increased competition for products like
flat panel TVs and DVD recorder products. Also other Japanese companies are
facing competition from Taiwanese and South Korean electronics giants.

A Sony
spokeswoman, Mariko Yamabe, stressed that the company had been shrinking
its work force through a voluntary retirement programme since 1995.Details
of the restructuring plan are scheduled to be announced on October 28, she
added.

Sony's electronics division has been
struggling for more than a year amid the global downturn.Competition from
Japanese rivals and a shift in consumer tastes for such products as
flat-panel TVs and DVD recorders has hurt
sales.

Altough Sony has probably gained a lot from
the DVD market, as e.gt heir DRU-500 dual format DVD recorder was a big
success, the future does not look bright with competition of companies like
BenQ, LG, Lite-On and Samsung. Read the entire story here.

Source: Ananova