Sony plans for mass layoffs as it restructures

Sony is planning to cut 10,000 jobs as part of a restructuring plan from recently appointed CEO Kazuo Hirai.

Sony is planning to cut 10,000 jobs, or 6% of its global workforce, as part of a restructuring plan from recently appointed CEO Kazuo Hirai.

Harai's goal is to make the electronics company profitable again after four consecutive years of losses. The electronics industry, particularly TV manufacturers, has struggled recently due to falling prices and a tumultuous business climate.

The Japanese Nikkei newspaper reported today that the geographic breakdown of the job cuts is unclear. Many will come through consolidation of the company's chemicals and small and midsize LCD operations, according to Reuters.

Citing people familiar with the matter, The Wall Street Journal reported that “the cuts could be made over the next two fiscal years, ending in March 2014, though the timing hasn't been settled.”

Hirai took over from former CEO Howard Stringer earlier this month. Further details on the restructuring are expected to be revealed Thursday at Sony's corporate strategy meeting.

A representative from Sony did not immediately respond to requests for comment.

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