Handset maker ?358m in the red, cuts 2,000 jobs to save ?400m

Sony Ericsson posts 1Q09 loss, sheds jobs

Sony Ericsson this morning confirmed a massive pre-tax loss for the first quarter of 2009, albeit in line with earlier forecasts, and swiftly embarked on a €400m cost savings drive that will see 2,000 more jobs go this year.

The news comes a day after rival Nokia posted a 90 per cent slump in profits for the same period.

Specifically, Sony Ericsson has posted a pre-tax loss of €358 million for the first three months of this year, with revenue down 55 per cent year-on-year at €1.74 billion.

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