Sony has confirmed that it would lay-off about 10,000 jobs globally this business calendar as the electronic giants aims to come out of its deep losses, dragged down by its ailing TV unit. Unveiling this new strategy, Sony Chief Executive Kazuo Hirai said it aims to build up its digital imaging, games and mobile businesses, while seeking strategic investments in new areas such as medical equipment.
This restructuring is part of the new Chief Executive’s program to turn the company around after posting a record $6.4 billion in losses for the 2012 fiscal year. With the job cuts and the firm reorganization, Sony expects an operating profit of $2.2 billion for the current fiscal year ending March 2013. ”As CEO, I take this very seriously. But at the same time, it strengthened my resolve to transform Sony,” Hirai told hundreds of journalists. “Employees too want to restore Sony to its former glory and go beyond.” “Sony will change. I’ve fully dedicated myself to changing Sony,” said Hirai, 51, who took over the helm from Welsh-born Howard Stringer this month.
“As a result of these measures, Sony estimates that the headcount across the entire Sony Group will be reduced by approximately 10,000 in FY12. This includes employees expected to transfer outside the Sony Group as part of the sale of businesses and other realignments resulting from business portfolio optimization. Sony anticipates that many of these businesses will have future growth opportunities outside the Sony Group, and Sony will consider various measures to secure continuity of employment for employees at their new destinations. Sony is projecting restructuring costs of 75 billion yen in FY12″ Sony said in a statement.