Now, it's Sony's turn to take the hit: What it means, and why

By Scott M. Fulton, III, December 9, 2008

Sony was already suffering from internal issues, but now the global economy is forcing the CE giant to consider not only scaling down, but scaling back its innovations for next year. That the global economic predicament should impact Sony, headquartered in one of the hardest hit countries, should surprise no one. This morning, the company admitted that it, too, is taking its medicine. It will cut 8,000 jobs in its electronics divisions worldwide, which is bad but not catastrophic news, and it will reduce temporary or seasonal employees as well. For the corporation that consistently defines the state of global consumer electronics every year, the fact that the world's economy must focus its efforts away from consumer goods and toward infrastructure and durable goods, could eventually mean a long-term shift in strategy. Think of a company which two years ago touted one of its most important contributions to society as being the producer of "Wheel of Fortune," now devoting more of its efforts to helping the world to simply cope and overcome bad fortune.

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