Sony Deutschland To Cut 290 Jobs

COLOGNE, Germany, July 23 (AFP) - Sony Deutschland, the German arm of Japanese electronics giant Sony, said Friday it planned to cut 290 jobs in order to return to profit.
Sony Deutschland said in a statement it would cut 136 jobs and farm out a further 130 jobs to external firms and services suppliers.
In the business year ended March 30, Sony's German subsidiary booked record net loss of 50 million euros (62 million dollars) on an 11-percent decline in sales to one billion euros.
Underlying earnings also deteriorated, with operating loss widening to 28.3 milion euros from 6.6 million euros a year earlier.