Sony says no job cuts in PH for now

Posted at 04/18/2012 6:21 PM | Updated as of 04/18/2012 6:21 PM

MANILA, Philippines - The jobs of Sony Philippines employees are safe for now, despite the Japanese company's plan to slash 10,000 jobs nationwide.

Sony earlier announced it was cutting 6% of its global workforce, as it tries to reduce costs after 4 straight years of losses.

The Japan-based tech giant has predicted a net loss of $6.4 billion in 2011, its worse ever full year performance.

"We are not in a position to answer that question. In the Philippines, our sales is quite okay. We have no plan for job cuts in the Philippines as of now," Sony Philippines president and managing director Takao Kuroda said, during the local launch of the company's first product under its new mobile division.

Sony Corp. has been affected by weak demand, fierce competition and a stronger yen that makes exports less competitive. - ANC