After four years in the red, the Japanese tech giant – Sony Corp. – is cutting 6% of its workforce, totalling about 10,000 jobs.
This all comes on the tails of Sony's premiere business division – its TVs – being profitless for quite a while.
This is also the first big move from newly appointed CEO, Kaz Hirai, formerly of Sony's game – Playstation – division.
The TV industry, which buoyed Sony for many years is in serious decline. For fiscal 2011, major players Sony, Panasonic and Sharp are reported to have lost a combined US$17 billion.