Sony Electronics to Lay Off 1,000 by Year's End

Restructuring announced in Feb. 6 earnings call February 26, 2014
SAN DIEGO, CALIF.—Sony Electronics today announced plans to restructure its organization.

In line with Sony Corp.’s Feb. 6 earnings announcement outlining an estimated headcount reduction of roughly 5,000 employees globally, Sony Electronics confirmed a total staff reduction of one-third by the end of the calendar year, affecting approximately 1,000 employees across all sites. In addition, in an effort to further streamline costs and continue focus on existing partner relations, Sony announced the closure of 20 U.S. Sony Stores.

“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” said Mike Fasulo, president and chief operating officer of Sony Electronics. “I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”

Sony said it will continue to focus on consumer 4K technology in its 2K models in 2014, “with a continued commitment to the future success of its U.S. television business. The company will place an increased focus on its premium products – including its digital imaging line, high-resolution audio, and full suite of professional solutions – while leveraging its strengths in hardware, content and gaming. ”

There are no further details at this time.

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