Billboard has posted an article stating that Sony Corp is set to ax 10,000 jobs in an attempt to return to profit.
According to The Australian, the proposed cuts are the first details released from the restructuring plan of new Sony CEO Mr Kazuo Hirai. Mr Hirai took over from former CEO Howard Stringer during April, 2012 and aims to return Sony to a profit after running at a loss for four years in a row.
In an attempt to reduce payroll expenses, Sony are looking to sell off external businesses that aren’t at the centre of the electronics company. Sony has already struck an agreement to offload its chemical products business to the Development Bank of Japan, while also spinning off a liquid crystal display manufacture to Japan Display. The two sales could lead to a reduction of 5,000 jobs alone.
The projected 10,000 job reduction is estimated to be completed by March 2014.