|
|
Article: Sony Ericsson Q2 profit slumps.(Financial report)
- Article from:
- Total Telecom Online
- Article date:
- July 18, 2008
CopyrightCOPYRIGHT 2008 Terrapinn Holdings Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Nick Wood , Total Telecom
Sony Ericsson Friday announced an aggressive cost-cutting plan which involves shedding thousands of jobs, as its second quarter profit dived 97%.
"We are targeting a reduction in opex of [euro]300 million in 12 months, and as part of this we plan to reduce our workforce by 2,000 globally," a spokesperson for Sony Ericsson confirmed to Total Telecom.
Still, she insisted the move is part of the vendor's strategy of addressing the low-end market, and not "a knee-jerk response" to its plunging profit.
"We are aligning our operations and resources worldwide to meet an increasingly competitive business ...