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Tech Digest: Sir Howard Stringer, the Sony boss whose company reforms were doing a great job until the global financial crisis stopped everyone buying second BRAVIAS for the bedroom on their credit cards, will be turning down his bonus this year as Sony reveals its first annual loss in 14 years.

“The massive economic upheaval being experienced across the globe is sparing no one in the consumer electronics world,” Stringer said, as he revealed a forecast loss of $1.7bn for the year – and said Sony would look to making more job cuts on top of the already-announced 16,000 staff its planning to axe – eventually saving 30% in personnel costs.

Sony also reduced its forecast for total sales revenues.

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Electricpig: If you’re keen on buying new Sony kit any time soon, you might have to save a little longer. The company just announced it’s cutting 5% of its global workforce, and even plans to increase prices of its products to stave off financial troubles.

The Japanese firm said: “Sony intends to adjust product pricing to mitigate the impact of the appreciation of the yen, curtail or delay part of its investment plans, and downsize or withdraw from unprofitable or non-core businesses.

“Furthermore, Sony plans to realign domestic and overseas manufacturing sites, reallocate its workforce and reduce headcount.”

It’s estimated around 8,000 employees will be made redundant, in addition to cut backs in its seasonal and temporary workforce.

And if you’re hoping for a whizzy new product in the coming months? Don’t hold your breath. It sounds as if Sony’s trimming right back on its research and development spend too and is overall reducing its investment in the electronics business by “approximately 30%” over the next fiscal year.

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