Sony is shutting down 20 retail stores in the U.S.
Sony Corporation is shutting down 20 retail stores in the U.S. and is cutting 1,000 jobs. These job cuts are part of a reduction of 5,000 positions globally (3% of their staff). It falls under a much larger reorganization that includes the spinning off of Sony’s TV operations and selling their PC division.
“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” stated Sony Electronics president and COO Mike Fasulo.