Engadget HD
Freshly minted Sony CEO Kaz Hirai has revealed his plan to turn around Sony's fortunes and as rumored, it includes significant cuts. Two days ago, the company revised its projections for the 2011 fiscal year to reflect a $6.4 billion loss. The One Sony plan includes reducing headcount by 10,000 in the 2012 financial year, a number that also reflects jobs leaving Sony as businesses are sold or otherwise reorganized, and will cost it 75 billion yen ($926 million) during 2012. Currently, the plan is to focus on digital imaging, gaming and mobile for growth, until those three make up 70 percent of its total sales in 2014. As far as its beleaguered HDTV business, it's going forward with the plans announced during CES to streamline the product line, reduce its costs, and return to profitability by 2014. Looking forward, there's slightly fuzzier promises to "develop and commercialize" OLED and Crystal LED technology. Beyond those the idea is to expand in emerging markets, as well as medical and 4K related technologies. There's more details in the press release after the break and presentation slides linked below, we'll let you know if there's any more information revealed on a conference call later on today.

Continue reading Kaz Hirai reveals 'One Sony' turnaround strategy, will cut 10,000 jobs

Kaz Hirai reveals 'One Sony' turnaround strategy, will cut 10,000 jobs originally appeared on Engadget on Thu, 12 Apr 2012 02:01:00 EDT. Please see our terms for use of feeds.

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