Electronics giant Sony is axing 8,000 jobs across the company amid falling profits and a strong yen.
The company is closing two overseas manufacturing sites, including one in France, and reducing its headcount by March 2010 in response to a sales slump.
Sony said it will reallocate its workforce through programmes including work reassignments and outplacements, while also cutting back on its temporary staff levels.
In addition, Sony plans to "adjust product pricing" to take into account the appreciation of the yen.
Japanese firms are facing falling sales in their primary markets of Europe and the US, while the strength of the yen makes exporting goods expensive.
Sony is planning to reduce investment in the electronics business by around 30 per cent in the year to March 31st, 2010, compared to original forecasts.
The company said it is hoping the layoffs and other measures will save around 100 billion yen (£733 million) by the end of next year.
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