Sony Corp., the Japanese consumer electronics giant, has announced its plans to slash 8,000, or 5%, of the jobs in its electronics division and close about 10% of its 57 manufacturing sites worldwide, due to global economic slowdown, which has particularly hit the company's electronics business.

The 8,000 job cuts -- the biggest announced by an Asian firm so far due to decrease in sales as global financial crisis has gripped many countries. Under the proposed plan, about 10 percent of the company's 57 plants will be shutdown, including two overseas sites. However, the official statement did not specify that which plants will be closed.

The move is an effort to save more than 100 billion yen ($1.08 billion) by March 2010. Sony currently employs around 160,000 professionals in its electronics division worldwide. In addition to these job cuts, the company also plans to "reduce headcount in its seasonal and temporary workforces."

The announcement came after the Japanese company slashed its profit forecast by as much as 38% in October, citing weak sales of its flat-panel televisions, digital cameras and cellular phones.

Like other Japanese manufacturers, Sony has also been hit hard by a surging yen, which makes Japanese goods more expensive for consumers in the United States and Europe.

Some sources revealed that Sony also plan to cut spending in semiconductors and will outsource a portion of the production it had planned for image sensors for mobile phones.

The scrip of Sony, which has fallen nearly 70 percent this year, closed up 3.9 percent at 1,896 yen ahead of the announcement.