Toshiba, out of Japan, and Sony Ericcson, out of London, are both cutting jobs. Toshiba is cutting 3900 workers by March 2010, due mainly to falling profits. This will mainly effect contract workers for the Japanese company.
Sony Ericcson is cutting roughly 2000 jobs. Those job cuts will come world-wide for the London-based cell phone manufacturer and, again, are due primarily to weak sales that can be attributed to the lingering recession.So that’s another 5900 people that will be out of a job.
Yet, in the midst of such bad news, turns out Citi Group has reported its first profit since 2007, and Google beat its profit estimates.