Sony Ericsson posts epic quarterly loss, adds another round of job cuts

Filed under: Sony EricssonSome good news, please, Sony Ericsson? Anything? Perhaps a surprise Idou ship date? You desperately need something to counter this dismal quarterly report you just dropped on a bad news-saturated public, showing a net loss of €293 million (about $382 million) in the three-month period ending March 31 — more than €100 million more than the amount you shed in the quarter prior. Despite reassurances to the contrary, we suspect that neither Sony nor Ericsson are prepared to tolerate red ink out of their joint venture forever, and it doesn’t help that you’ve put Android on the back burner indefinitely. What’s more, we thought your staff might be able to exhale now that the “cost saving program” to curtail spending by €300 million by cutting 2,000 jobs is complete, but you’ve coupled the bleak report with the announcement of an additional 2,000 cuts. Your shipped units are off a staggering 35 percent year over year, to boot; maybe the “good” news — and we’re really reaching here — is that your European rivals are sharing in your pain right about now. Chins up, guys, and get some quality product out of the labs.

Sony Ericsson posts epic quarterly loss, adds another round of job cuts originally appeared on Engadget Mobile on Sat, 18 Apr 2009 08:44:00 EST. Please see our terms for use of feeds.

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