Sony Corporation will be abandoning the optical disco drive business after completing a restructure after suffering major losses in 2011. Sony Optiarc Inc. is a wholly owned subsidiary that produces CD and DVD drives used in personal computers. Sony Optiarc will be ceasing their operations in March according to sources with Asahi.com. Most of the 400 employees in that division will be let go through an early retirement program. In 2011, Sony posted a net loss of 457 billion yen ($5.8 billion). Since then Sony has been reviewing their unprofitable divisions and sold their chemical business. Sony is working on cutting 10,000 employees by March to save money. Sony Optiarc has a 10-15% market share of the global market for optical disc drives, but reported operating losses because of a shrinking market on notebook computers and price competition with overseas rivals.