Sony Announces 10,000 Job Cuts
Sony Corporation announced Thursday, plans to cut 10,000 jobs, or about 6 percent of its total global workforce, as part of a restructuring plan.
In a press release, the Company announced a series of strategic initiatives to be introduced under the new management team established on April 1, 2012. Sony said it is accelerating its ongoing process of business selection and focus, and is concentrating its investments in core and new business areas.
Sony Corporation, one of the leading manufacturers of electronics products for the consumer, has suffered stiff competition against Apple Inc.
As part of the restructuring plan, Sony will strengthen core businesses in Digital Imaging, Game and Mobile areas. The Company also announced plans to focus around the television business and expand business in emerging markets.
As the Company moves to shift resources to growth areas, it will also restructure its headquarters, subsidiaries and sales company organizations in order to further enhance operational efficiencies.
As a result, Sony says it will cut approximately 10,000 in the 2012 fiscal year.
This number will include employees expected to transfer outside the Sony Group as part of the sale of businesses and other realignments. The Company will consider various measures to secure continuity of employment for employees at their new destinations.