| [00:00.300] | The Japanese electronics maker Sony says it's to cut about 5% of its global workforce |
| [00:05.520] | and shut down 10% of its production facilities. |
| [00:08.680] | The move comes as new figures show Japan's recession |
| [00:11.440] | is deepening far more quickly than forecast. |
| [00:14.380] | The figures suggest that Japan's economy, the 2nd largest in the world, |
| [00:18.270] | shrank by 1.8% this year. |
| [00:21.510] | From Tokyo, here's Duncan Bartlett. |
| [00:24.020] | Sony says that 8,000 job cuts are necessary |
| [00:27.000] | in order to save company around 1 billion dollars per year. |
| [00:30.780] | It's already warned its profits will be less than half of those a year ago, |
| [00:34.400] | despite heavy promotion of its flat-screen TVs |
| [00:37.480] | and PlayStation 3, computer games machine. |
| [00:40.620] | Many other large companies have also seen their profits |
| [00:43.610] | decimated by a slump in sales and a rise in the value of the yen. |
| [00:48.370] | Small businesses are faring even worse with bankruptcy levels on a rise. |
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