840 workers from this 2,000 total come from a factory located in Minokamo;  which will be shut down. They were manufacturing lens blocks, phones and DSLR interchangeable lenses. Part of the production from Minokamo was moved to another factory. Apparently this move is due to some parts of the phones not being made anymore. All these cuts should save Sony around $379 billion for the upcoming fiscal year in April. Sony’s financial results for the 2012 fiscal year should not be affected by these layoffs.

Sony hopes that these moves will help them bring the profits back. They marked worst financial loss in the last 60 years, $5.7 billion, so they decided to do something serious about it. Besides being the worst it was also 4th consecutive profit loss for Sony. With all things going down, shares also went by 42% in the last six months. Now the company has decreased expectations on their earnings for the next year to only $257 million. Will this cut help Sony to come back, maybe even in the 2014, or will it just be one more bad thing in a series of bad decisions? We will see.

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