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Forums - Sony - Sony Freezing, Cutting Employee Wages.. (First Time in Company History)

NJ5 on 19 March 2009
Noobie said:

 

Sorry if i m wrong.. Accounting and Finance is not my major rather its neither my minor also in any degree plan.. Anyway wot i gather from Data doesn't show Sony in bad light..

I m only talking abt the 3 months ending 31-12-2008

Sony Panasonic Hitachi
Gross Profit 432,148.00 510,643.00 479,793.00
Net Income 10,409.00 -63,116.00 -371,099.00
Diluted normalized EPS 12.67 -30.48 -108.73

 

 

 

So from the figure i see Sony gross profit is lowest.. but still in the same ball park.. i won't say its way too low or miles behind the others. But surprisingly Net Income is in positive and also Diluted EPS( which i believe is Earning Per Share and i think is important for investors is positive)

As i said i m no Economist or Accountant.. But the little knowledge i have abt Balance Sheet with which i have skimmed over the three reports doesn't show me Sony too badly..

Anyway may be u r right, and i m sure you can analyize balance sheets a lot more better than me... so may be Sony is in dire trouble... and i can't look for the right figures in the balance sheet.

Anyway i see no reason to argue about something i don't have much information about.. So i won't be replying anymore.

I was looking more at the cash/long term debt parts when I said that about Sony/Hitachi/Panasonic (that's in the balance sheet section, not the income statement which you pasted). It's bad enough if you're losing money (as most electronics Japanese companies are), but when you combine that with high debt and low cash as Sony has, it's a real disaster.

You are right that Sony's income statement doesn't look bad, but Sony predicts it will look very bad after this quarter ends:

http://www.iht.com/articles/2009/01/22/business/sony.1.php

 



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Ail on 19 March 2009
NJ5 said:
Procrastinato said:
NJ5 said:

Nintendo, Microsoft, Intel, IBM and HP are all posting profits, while no analyst expects Sony to turn profitable with the measures they announced so far. Their losses are too huge for that.

As for Microsoft's layoffs and cuts in the gaming division, all that proves is that Microsoft is a more cautious company than Sony. Sony only began restructuring when they started losing money, while Microsoft acted preemptively to avoid getting in the hole in the first place.

 

 

So you agree with my statement then, that Sony treats its employees extremely well for its situation... and companies like MS treat their.. well their stockholders well, but not their employees so much, despite profiting?

I can't decide, as an American... be proud... be ashamed... be proud... be ashamed.. hmm tough one.

I guess I agree with that part. There's a big business culture difference between the two countries of course. Microsoft is doing what most other American and European companies are doing, but in the end this will make them less likely to go bankrupt. It's a mixed bag really.

 

All Microsoft did with those layoffs is take advantage of the global economic recession to try to fatten a little more their shareholders and screw a little more their employees. Then they wonder why all the top developers would rather go work for Google than for them.....

If things are so bad for MSFT that they have to lay off some people, why don't they cut the dividends and why don't Steve Balmer and co take a pay cut ?

Oh no!!!

 



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Deneidez on 19 March 2009

Well, Sony is doing what it can do to soften the blow or in extreme case even save the whole company. :P



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Galaki on 19 March 2009

If a company made a net lost. Nobody should get a bonus, of any kind.

Bonuses are for excessive profit... like Nintendo.



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Kasz216 on 19 March 2009
blazinhead89 said:
what company isn't ? And anyone who expects a wage increase in this economic climate is loony.

Most amazingly.

Lots are both cutting workers and giving out raises.

You'd be surprised.   Lots of companies see it as needed to make sure their employees stay and don't defect to somewhere that will give them more money.

Good for Sony though.

 



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jake_the_fake1 on 19 March 2009

A majority of companies are hurting, if not all in one way or another, so to point Sony out right now is just dumb since it's happening all over.

I and all the others at my work have unfortunately become redundant as a result of this economic crisis, everything is being offshored since we Aussies are to expensive to keep, it's life, it's business but life goes on.



DMeisterJ on 19 March 2009

Oh god, more Sony is doomed, I thought we had these threads under check for a while, since SCEA posted a profit in the third-quarter, but I guess that it'd be too much for anyone to just let Sony have a few weeks off from the bashing.



wholikeswood on 19 March 2009

The night is darkest just before the dawn...



Nabraham on 19 March 2009
blazinhead89 said:
what company isn't ? And anyone who expects a wage increase in this economic climate is loony.

Please, don't make everything sound so doom and gloom. Ill be getting a raise and bonus this year (I work at a fortune 500 company). Not every company is being slammed by this economy.

Had to change my sig to get some moderator to quit bitching about it......

 

nen-suer on 19 March 2009
wholikeswood said:
The night is darkest just before the dawn...

 

Dude...Thats Deeeep

 

You are a true "White Knight"

 

But dont care what these guys there just



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