Sony’s Profits Down 95%

Sony just reported that through the fourth quarter of 2008, their profits plummeted a staggering 95%, losing $1.67 billion. The reported down profits were taken from last year’s Christmas season, usually the time of the year that all companies including Sony sell the most products. This is the first loss that Sony has reported since 1995 when they produced several box-office flops. In lieu of the situation, Sony is reportedly cutting 8,000 jobs and going to shut down five or six of the 57 worldwide factories. Will the headless chicken that is the economy ever recover?

Source: OSNews