Sony to cut 10,000 jobs to bring the company back on track

Restructuring process is often a painful one as plenty of people lose their jobs, and when a company like Sony is going through so much trouble, it’s expected that plenty of people will let go.

Sony will cut almost 6% of its workforce, totalling to 10,000 and I just find it so surprising that they have 168k employees worldwide. Kazuo Hirai who was recently appointed as the CEO of Sony Corp. has a lot of things to do here, which is of course, restoring Sony’s TV business and making it profitable.

Sony has been posting losses for four years in a row now, and is expecting a $2.7 billion net loss for this fiscal year which closed few days ago on April 1.

The Nikkei reports that, “Sony may also request that its seven executive directors who served through the fiscal year to end-March, including Stringer, who is now chairman, return their bonuses.”

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Thanks, Reuters.