report: Sony Could Post $1.1 Billion Loss for 2008

According to reports, there could be a significant loss in Sony's future. Instead of the predicted $2.2 billion profit for its 2008 fiscal year (which ends on March 31st, 2009), Sony could post a loss of $1.1 billion.

The report comes from the Nikkei Business Daily which was picked up by Reuters. This possible profit loss could make the planned restructuring get completed earlier than March 2010 -- which would cut 4% of Sony's workforce or 9000 jobs.

This would be Sony's first posted loss in 14 years and only its second publically reported loss ever. Ouch.