Merry Christmas. Here's your pinkslip.
Variety reports that Sony is going to try to cut $1.1 billion from its expenses, with most of those expenses coming in the way of salaries for the Electronics division.
Some 8,000 full-time and 8,000 part-time employees will see the end of their jobs with Sony as the cuts run through 2010. In addition, Sony will be closing down 10% of its manufacturing plants and cutting investments with its electronics division by as much as 30%.
Its going to be a very cold Winter for a lot of individuals.