Sony to Shed PCs, TVs and 5,000 Employees

Move comes after TV division records ninth straight year of losses

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Akio Kon / Bloomberg / Getty Images

Sony Corp unveiled a corporate restructuring plan on Thursday that will see it shed its PC and TV divisions, once the bread and butter of its operations, and slash 5,000 jobs.

Reuters reports that the restructuring plan could save the ailing electronics giant $988 million in fixed annual costs. The widely anticipated move comes after Sony’s TV division racked up nine straight years of losses, amid heated competition from Apple Inc. and Samsung Electronics Co.

[Reuters]

10 comments
SamuelClemens
SamuelClemens

And Sony is good for what now? You can't live on game consoles alone.

Glock3am
Glock3am

This article is a little misleading as it seems to say that the TV division is getting axed completely, when if you actually read the source they are simply restructuring it by rolling it into a separate subsidiary.


They will still be making TVs, for now at least.


Long live Bravia!

p56741944
p56741944

I wonder when we will see Samsung sell out the smartphone division.

Onepatriot
Onepatriot

I've always bought Sonys.  I love them.  Everyone marvels at the picture quality.  This is sad news.

seizeabe
seizeabe

Sign of things to come !!!

Retailers record lowest sales in history....

Manufacturer now closing units...

Minimum wage, maximum greed...

Profits and incomes, grew 250% to 400%...

Top few took home all of it...

Employees and the rest, got none of it...

No raises or increase in minimum wages in decades...

Living costs, healthcare costs, education costs, skyrocketing...

Homes lost, values lost, savings lost.....

Consumers have no money left to buy anything...

Retailers record lowest sales in history....

Retailers and manufacturers are closing shop...

Natures response....

Higher the rise, the greater the fall..

The rest are already down, and they cannot fall.

Sign of things to come !!!

eagleeye
eagleeye

Their pricing structure doomed them to failure. Plain, simple, Sony costs more than anything out there.

CLMARKS
CLMARKS

The restructuring plan seems a long way to the top. And the top is unveiled.  

AhFang
AhFang

If Sony doesn't come up with a hit product, they're finished. 

David_Elliott_Lewis
David_Elliott_Lewis

Short terms cost savings with long terms negative consequences.   Decades of investment in creating infrastructure to build these core businesses will now be lost.   This management at its worst.

David Elliott Lewis, San Francisco.