NEW YORK -- Sony (SNE) is cutting 10,000 jobs, or roughly about 6% of its global work force, according to a report.
The layoffs will come by the end of 2012, Japanese newspaper Nikkei reported Monday.
Sony's new CEO Kazuo Hirai will hold a briefing on Thursday.
Sony has posted four straight years of losses, hurt by weakness at its LCD television unit.
Talks are continuing between AT&T (T) and about 40,000 AT&T landline workers, the Communications Workers of America said Sunday. The union contracts expired over the weekend. A strike was a possibility, but both sides said they would keep working on a new deal. A CWA spokeswoman said the employees would report for work without a new contract, but still retain the option to call for a walkout. At issue in the negotiations are job protection clauses and health care premiums and co-payments, according to The Associated Press. 9 Stocks That Prove Dividends Make All the Difference
Yahoo!'s (YHOO) head of products, Blake Irving, is leaving the company following an announcement the Internet company would be slashing 2,000 jobs. Yahoo! CEO Scott Thompson will hold an all-staff meeting Tuesday to brief employees on the company's new management structure, a source told Reuters. Morgan Stanley CEO Gorman's Pay Drops 25%
Great Wolf Resorts (WOLF) received a sweetened takeover bid of $7 a share in cash from KSL Capital Partners. Great Wolf, an operator of indoor water parks, rejected an earlier bid of $6.25 a share from KSL, the private investment firm. The latest bid from KSL tops an agreed-to bid from Apollo Global Management (APO) of $6.75 a share. Great Wolf said Sunday it would evaluate the bid of $7 a share from KSL. 5 Stocks Endowment Funds Are Buying in 2012
Earnings are expected Monday from Greenbrier (GBX), a supplier of transportation equipment and services to the railroad industry, and Zep (ZEP), a maker of cleaning products.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV