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Sony Corporation announced that it would cut about 6 percent of its workforce, or 10,000 jobs, during the course of fiscal 2012. Sony's announcement came on the heels of revealing that it would report a $6.4 billion loss for the fiscal year that ended March 31. Sony outlined its new strategic initiatives in five steps:
"1. Strengthening core businesses (Digital Imaging, Game, Mobile)
2. Turning around the television business
3. Expanding business in emerging markets
4. Creating new businesses and accelerating innovation
5. Realigning the business portfolio and optimizing resources"
According to Sony President Kazuo Hirai, the restructuring efforts will cost approximately $925.7 billion.
