Sony on Thursday warned it would report a bigger-than-expected annual loss, blaming costs tied to its exit from the personal computer business, as the once-mighty firm undergoes a painful restructuring.
Sony on Thursday said it would cut 5,000 jobs from its workforce, saving more than $1.0 billion annually as the Japanese electronics giant undergoes a painful restructuring.
By Daxim L. Lucas
There was a time when a revolutionary device called the Walkman was the first and last word when it came to portable music. Long before the invention of the iPod, the must-have music player that wowed users all over the world was a rudimentary cassette tape player with headphones.
Sony Corp. is back in the black for the fiscal fourth quarter, recording a 93.9 billion yen ($948 million) profit, with big help from a weaker yen that boosts overseas earnings.
Dozens of Sony executives including the firm’s chief are foregoing bonuses this year in an “unprecedented” step to atone for a slump in its embattled electronics unit, a spokeswoman said Wednesday.