Sony's North American Restructuring Includes Retail Pullback
Sony on Wednesday announced the North American implementation of the worldwide cuts it put into place last month, and it includes the reduction of about 1,000 employees and the closure of about 20 of its stores.
The purpose of the cuts is “to maintain its competitiveness in an evolving consumer electronics market,” Sony said.
“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” Mike Fasulo, President and COO of Sony Electronics, said as part of the announcement.
“I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”