Sony to shutter 20 retail stores in the U.S

Wed Feb 26, 2014 8:41pm IST

Alex Belfield, an event planner for Sony PlayStation, prepares a display for the PlayStation Vita as workers prepare for the 2012 International CES at the Las Vegas Convention Center in Las Vegas, Nevada, January 8, 2012.REUTERS/Steve Marcus/Files

Alex Belfield, an event planner for Sony PlayStation, prepares a display for the PlayStation Vita as workers prepare for the 2012 International CES at the Las Vegas Convention Center in Las Vegas, Nevada, January 8, 2012.

Credit: Reuters/Steve Marcus/Files

Related Topics

Stocks

   

REUTERS - Sony Corp's (6758.T)(SNE.N) electronic unit said on Wednesday it is closing 20 retail stores in the United States and cutting 1,000 jobs, as the TV and game console maker tries to stem losses and regain market share.

Sony has a total of 31 retail stores in the U.S.

The job cuts are part of a previously announced reduction of 5,000 positions globally, or just over 3 percent of its staff, and fall under a much larger reorganization that includes spinning off Sony's TV operations and putting its personal computer division on the block.

"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," Mike Fasulo, president and chief operating officer of Sony Electronics, said in a statement.

Known for its Bravia TV and Playstation game system, the Japanese company is struggling to compete against Apple (AAPL.O) and Samsung Electronics (005930.KS) that dominate the smartphone, computer and gadget market.

(Reporting by Jennifer Saba in New York; Editing by Meredith Mazzilli)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Reuters Showcase

Sundar Pichai

Sundar Pichai

Google's Pichai to oversee major products and services  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage