Sony Ericsson workers face 2,000 job cuts

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.”