Sony to cut 1000 jobs

Sony Corporation, the loss-making Japanese electronics and entertainment company, is cutting 1,000 jobs from its mobile phone division. 

Nearly two-thirds of  the job cuts will fall on its Sony Mobile division in Lund, Sweden.

The company said in a statement that the cuts form part of  its previously-announced plan to reduce its workforce by 10,000 by March 2013. 

For the year to March 31, 2012, Sony made a record loss of  5.6 billion yen. 

In August it reported net losses for the April-to-June quarter of  24-point-6 billion yen compared with a loss of  15-point-5 billion yen a year earlier. 

As a result, Sony slashed its net income forecast for the year to March 2013 from 30 to 20 billion yen.