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NEW YORK ( TheStreet) -- U.S. stock futures were sinking Monday as jobs growth in the world's No. 1 economy came in weaker than expected.

European markets were closed while Asian shares declined Monday after U.S. employers added only 120,000 jobs in March, below economists' expectations of 210,000.

The unemployment rate fell to 8.2% from 8.3%.

The jobs report was released on Friday, a day when U.S. markets were closed in observance of Good Friday.


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.


Mike Wallace, the 60 Minutes journalist, died Saturday in the New Canaan, Conn., care facility where he had lived the last few years of his life.

Wallace was 93.


Bubba Watson defeated Louis Oosthuizen Sunday on the second hole of a playoff to win the Masters, the first major golf tournament of the season.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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