October 5, 2005
Sony is restructuring the company to streamline its electronics and other business areas.
Newly appointed Sony CEO Howard Stringer, on the job since June, is eliminating about 7 percent of the company's global workforce, closing 11 plants and stopping production in unprofitable electronics units.
The company has begun restructuring and the substantial change abolishes Sony’s centralized company system and instead focuses on and allows semi-independence of newly defined business groups.
Sony will focus on high-definition and surround sound technologies and devices related to HDTV, video, audio, broadcasting and post production. Sony expects to be profitable in television by the second half of fiscal year 2006. Additionally, after rumors to the contrary Sony announced that it will continue to develop products for the Blu-ray DVD disc format and will launch a range of Blu-ray-related, HD and audio surround sound products throughout 2006.
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