Electronic giant Sony is expected to make some major changes, job cuts. Why? Hit the jump for details.
Sony is expected to cut 10,000 jobs, or about 6 percent of its global workforce by as early as the end of the year, according to a Nikkei report.
The Japanese business newspaper also reports (subscription required) that seven executives — including chairman and former CEO Howard Stringer may be asked to forfeit their bonuses. The report comes on the heels of the electronics and software giant recording a loss of 260 billion yen ($3.2 billion) for the 2011 fiscal year.
Half the workforce reductions would come from consolidating the company’s chemicals and LCD businesses, the report said.
Kazuo Hirai, who took over as Sony’s chief executive on April 1, is scheduled to host a special company event on Thursday to outline his strategy for the coming years. While job cuts may be on the agenda, Hirai is also likely to use the evening to focus on his “One Sony” initiative — The three “core pillars” of which will be digital imaging, gaming, and mobile.