It appears that Sony is working to make themselves as fat free as possible. And to be clear, that statement has nothing to do with diet, rather it has to do with Sony getting ready to layoff a whole slew of employees.

Sony chairman and CEO Howard Stringer announced yesterday that the company would be eliminating 10,000 jobs and 20 percent of its product models, in an effort to cut costs by US$1.8 billion by March 2008.

The company is aiming for 5 percent profitability by concentrating on improving performance in its electronics division, specifically TV sales. The company has been vigorously promoting its Bravia brand of LCD televisions, and claims to have gained the No.1 share in LCD TVs in the United States. [Read the rest]