Mobile phone maker Sony Ericsson has announced they will be letting 2,000 workers go, as they try to regain market share. The company reported an operating loss of $3.1 million dollars for the second quarter as compared to a profit of almost $500 million a year ago.
The company hopes to ride out the current credit crunch by cutting operating costs up to $600 million a year. In June the company had issued a profit warning and sales for the quarter were down 9.4%.
Sony Ericsson chief executive Dick Komiyama said, “The measures we are taking are aimed at becoming a faster, more agile and more cost efficient organization that can continue to create innovative products that excite consumers.”