Sony to shutter 20 stores in US, implement staff cuts
Sony is shutting down US stores and going ahead with staff cuts, in the wake of the expected sale of its PC business.
Sony will close some stores in the US as part of its restructuring efforts, the company said Wednesday.
To "maintain its competitiveness in an evolving consumer electronics market" Sony announced the closure of 20 US stores.
That includes stores in California, New York, and Florida, as well as other locations.
Sony also made a statement about staff cuts.
In line with Sony Corporation's Feb. 6 earnings announcement outlining an estimated headcount reduction of roughly 5,000 employees globally, Sony Electronics confirmed a total staff reduction of one-third by the end of the calendar year, affecting approximately 1,000 employees across all sites.
"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," Mike Fasulo, COO of Sony Electronics, said in a statement.
Earlier this month, Sony reached an agreement to sell its PC business to an investment fund and spin off its TV business.
Sony will now focus on smartphones and tablets.
At that time, Sony also revised its full-year forecast to a loss of 110 billion yen ($1.1 billion) from a profit of 30 billion yen.