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Firm hopes to recover lost profits with $470m cost cutting move Written by Simon Burns in Taipei We are aligning our operations and resources to meet an increasingly competitive business environment Dick Komiyama Sony Ericsson Sony Ericsson has announced 2,000 job cuts as part of a cost reduction measure. The company confirmed speculation that that cuts would be made following poor quarterly results. The joint venture between Japan's Sony and Sweden's Ericsson has struggled with tough competition in the mobile phone market. The company reported profits of only $9.5m in the second quarter, compared to $347.6m in the same period one year earlier. Quarterly sales were down more than nine per cent to $4.45bn. The company warned investors last month that results would be poorer than expected. Observers attribute Sony Ericsson's... [read full story]
