Today Sony has announced plans to lay off 10,000 employees in anticipation of their largest loss ever. This accounts for 6% of their total workforce. The company has estimated a projected loss of $6.4 billion for the last fiscal year which ended last month.
In anticipation of the loss, the company is instituting plans to cut losses and focus on their most profitable divisions. They will be slimming down their diluted line of televisions and focusing more on their digital camera, gaming, and mobile divisions.
Newly appointed Sony CEO Kaz Hirai held a press conference in Tokyo to announce and outline the restructuring plans. Hirai had this to say on the matter, "Now is the time for Sony to change...Everyone at Sony is standing together to make this happen."