Sony Electronics to close 20 US stores affecting 1,000 employees
Jessie Shen, DIGITIMES, Taipei [Thursday 27 February 2014]
Sony Electronics has announced plans to close 20 of its US stores, and eliminate one-third or 1,000 of its US employees, by the end of 2014.
The planned job cuts are in line with parent company Sony's previously-announced headcount reduction of roughly 5,000 employees globally, according to a company statement. In addition, after the closure of 20 US stores, 11 Sony stores will remain open.
"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," said Mike Fasulo, president and COO of Sony Electronics.
Sony on February 6 unveiled plans to sell its PC unit to a Japan-based investment fund, and restructure its TV business, in a move to focus on mobile devices including smartphones and tablets. As part of its business focus change, the company plans to lay off about 5000 employees – 1,500 in Japan and 3,500 overseas – by the end of its fiscal 2014 ending March 31, 2015.
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