Business | April 12, 2012

Sony confirms job cuts, new strategy

Sony has confirmed it will cut 10,000 jobs globally as it introduces new initiatives to turn the business around.
In a release today, Sony estimated that the headcount across the entire Sony Group will be reduced by approximately 10,000. The cuts would be part of a strategy that will see the realignment of the company's business portfolio.

The company said it will continue to invest in core areas such as Sony's image sensor manufacturing capacity, capital investment in mobile products and aggressive strategic investment in development or M&A relating to new business areas such as medical .

As part of a wider strategy the company laid out five core initiatives to revitalize the company:

1. Strengthening core businesses (Digital Imaging, Game, Mobile)
2. Turning around the television business
3. Expanding business in emerging markets
4. Creating new businesses and accelerating innovation
5. Realigning the business portfolio and optimizing resources


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