Economy slowdown hits Sony Ericsson
Recognizing the alarming change in the mobile phone market conditions, Sony Ericsson feels the need to take extended actions, and ensure its customers that the company will remain as competitive, dynamic and fast-paced in their communications division as ever.
From today on, the company will start implementing an enhancement strategy to better align its operations and resources globally. These adjustments will help to facilitate an increasingly competitive business environment and assist in reconditioning the company’s capabilities for profitable growth, including a faster, suppler, and more cost proficient organization.
While announcing its second quarter results this year, Sony Ericsson also declared, that in order to adjust to tough market conditions, and in an attempt to save Euro 300 million over the next twelve months, it would reduce its headcount by 2,000 people worldwide. This would comprise both, consultants and employees, including 450 workers from the Research Triangle Park location in North Carolina, 200 possibly in Spain and 1,000 in Sweden.
The company, a joint venture between electronics firm Sony, and telecom equipment manufacturer Ericsson, is experiencing a lack of consumer demand, which has been blamed on credit crunches, the troubled global economy, the mortgage crisis, and other financial cutbacks. The slowdown in many of the world's largest economies combined with strong offerings from RIM and Apple are not helping the situation either.
More information regarding Sony Ericsson’s global alignment campaign will be made public on 17 October, at the time of its third quarter 2008 financial results announcement.
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