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Sony expects biggest loss ever leading to 10K laid off

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  • Sony expects biggest loss ever leading to 10K laid off

    Sony announced today it would cut 10,000 jobs, approximately 6 percent of its global workforce, as it projects a loss of $6.4 billion for the fiscal year that ended in March. It will be the fourth straight year of losses for the company, which really needs to turn around its money pit TV business over the next two years. "Sony will change. I've fully dedicated myself to changing Sony," said new CEO and President Kazuo Hirai to press today, as reported by USA Today. Part of Hirai's turnaround efforts will be a fiscal pilates regimen, focused on strengthening the core businesses of mobile, digital imaging and gaming. The plan is for these groups to generate 70 percent of total sales for the company and 85 percent of income for the entire electronics business.

    On the games front, the company plans to increase sales through PSN subscriptions and downloadable content, along with expanding the PlayStation Suite lineup and its compatible devices. For all of Sony's problems, the games division seems to be the least of its worries.