The cell phone division of the Japanese company Sony has said that it is cutting 1,000 jobs or 15% of its work force. The job cut will be mostly in Sweden over the next two financial years through March 2014.
Sony Mobile Communication on August 24, 2012 said that the job cuts are an effort to reduce the costs and boost the profits of the company. Sony had earlier announced the plan to reduce 10,000 jobs and this is a part of it. Sony has planned to reduce 6% of its global work force by March 2013. Out of the 1,000 jobs being cut 650 are at Sony Mobile in Lund, Sweden.