Sony to cut 5,000 positions, split off PC, TV operations

Feb 06, 2014, 4:57 AM EST
A model displays Japanese electronics giant Sony's new ultrabook computer 'Vaio Tap 11' which has 11-inch sized tablet with detachable keyboard in Tokyo on October 8, 2013.
YOSHIKAZU TSUNO/AFP/Getty Images

Sony Corp, under pressure to shore up profitability in its electronics business, unveiled a restructuring plan on Thursday that will cut 5,000 jobs and trim 100 billion yen ($988 million) a year from fixed costs, while splitting off its loss-making PC and TV units. The PC division, as widely expected, will be sold to investment fund Japan Industrial Partners, which will set up a separate company to take over the operations. Sony will initially hold a 5 percent stake in that company.
Background:
Sony to cut 5,000 jobs, split off PC, TV operations
Sony to sell PC unit amid dwindling sales [NYT]

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