NJ5 on 21 January 2009
| FishyJoe said: It seems the general consensus by most analysts who crunched the numbers that the 16,000 layoffs won't be enough. I have a feeling there will be more announced either today or after earnings. |
They said those layoffs would save them $1 billion a year, and Nikkei mentioned $2-$3 billion losses in the last two quarters, so obviously they're not enough (not in the context of sustainability at least).
On another important note, most of those measures are to save cash in the medium/long-term... I'm still wondering how they'll have enough cash in the short/medium term. The restructuring costs money too, on top of the operating losses.
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