Mobile phone maker Sony Ericsson says it will slash 2,000 jobs worldwide to cut costs.
Sony Ericsson spokeswoman Lisa Canning in London says the job cuts will be made within the next 12 months as part of a savings package.
Friday's announcement came as Sony Ericsson posted a 97 percent drop in second-quarter net profit and said it planned to cut operating costs by 300 million euros a year.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
STOCKHOLM, Sweden (AP) _ Mobile phone maker Sony Ericsson is reporting a steep 97 percent drop in second-quarter earnings as tougher market conditions hurt its sales.
Net profit at the joint venture of Tokyo-based Sony Corp. and Stockholm-based LM Ericsson fell to 6 million euros ($9.5 million) in the quarter from 220 million euros in the same period a year ago.
Sales were down about 9 percent to 2.8 billion euros ($4.4 million.
The joint venture had warned before Friday's report that it expected to just break even because of tougher market conditions.
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