Sony is expected to post its first annual loss in 14 years and is cutting more than 2,000 full-time jobs and closing one of its two Japanese TV plants in Aichi Prefecture, in western Japan, according to Japanese business newspaper Nikkei.

Sony CEO Howard Stringer is expected to announce the cits amd plant closing at a news conference Thursday, according to the newspaper.

The move is expected to help Sony revive its struggling electronics business, which is believed to

be at the core of the company’s financial problems. As of 2006, Sony operated 13 plants in Japan. In the same year, Sony closed a portable music-player factory.

Sony has not been immune from the global recession. In October, the company had a full-year operating profit of 200 billion yen (US$2.2 billion), but poor holiday sales and lowered consumer spending on electronics pushed sales down.

Closures Expected

Cuts and plant closures […]

Orginal post by dhiram