Sony is selling off the Vaio brand and is cutting 5,000 jobs
Sony Corporation announced late on Wednesday that they are going to sell their Vaio PC business and is restructuring their TV business. Around 5,000 jobs will be cut as a result. The Vaio PC division is going to be transferred to Japan Industrial Partners.
Sony is going to stop the design and planning of new computers. Japan Industrial Partners is going to focus initially on the Japanese market at first, but will eventually expand from there.
Japan Industrial Partners is going to bring in around 250 to 300 Sony employees for the new computer venture. Sony is going to transfer other employees within the company where possible and offer an early retirement to others.
Sony is going to focus on higher end TVs over the next fiscal year like UHD 4K TV sets. Sony said that their TV business will not reach profitability it its current fiscal year as they were planning. However, the company is making these changes to deliver stable profit starting in the fiscal year ending March 31, 2015.