- Associated Press - Thursday, April 12, 2012

TOKYO (AP) - Sony says it will slash 10,000 jobs, or about 6 percent of its global workforce, and turn around its money-losing TV business in a bid to return to profit after four years of red ink.

New CEO and President Kazuo Hirai outlined his business strategy Thursday at a press conference where he pledged to revive the electronics and entertainment company. Sony earlier this week more than doubled its annual net loss projection for the fiscal year through March to 520 billion yen, or $6.4 billion, its worst ever.

Through cost-cutting, Hirai said Sony would turn around its TV business, which has lost money for eight years, by March 2014.

Sony will also expand its business in emerging markets and medical equipment.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide