The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
160 - 290 jobs Number of planned job losses
Announcement Date
24 July 2004
Employment effect (start)
Foreseen end date
31 December 2004
Description
Sony Deutschland announced it planned to cut 290 jobs in order to return to profit. The tough market situation in the sector, as well as the costs for the company's revamp programme are the main reasons for the net loss in 2003/04. The company said in a statement it would cut 160 jobs and farm out a further 130 jobs to external firms and services suppliers.
Sources
26 July 2004: Financial Times Deutschland
24 July 2004: Berliner Morgenpost
Citation
Eurofound (2004), Sony, Internal restructuring in Germany, factsheet number 60584, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60584.
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