Sony to shutter 20 retail stores in the U.S
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)
- Tweet this
- Share this
- Digg this
- Russia can run on empty for a year if sanctions block new bonds
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- Nasty, brutish and artsy? Neanderthal hashtag engraving found
- Mumbai hit by big power cuts after technical glitch at Tata Power unit
China's latest antitrust probes, which have hit firms such as Microsoft and Volkswagen AG, are not protectionist tools that favour domestic firms, an official of the country's price regulator told the official China Daily. Full Article
Data scientists are increasingly becoming important to the world's tech companies. Video