Printed from http://www.electronista.com

New Sony CEO vows not to pull any punches in cutbacks

updated 07:55 pm EST, Thu February 9, 2012

Kaz Hirai said he's ready to make tough decisions

Sony's Executive Deputy President, Kaz Hirai, said in a recent interview with the Wall Street Journal that no area at the electronics giant is "sacred" when it comes to restructuring. He continued, saying he is ready to make hard decision in terms of cutting both employees and exiting markets or selling ailing businesses. Hirai will take over from the company's current CEO, Howard Stringer, on April 1.

The company employs about 168,000 globally and these ranks are being reviewed, but nothing has been set, Hirai said. His comments suggest the company should sell some of its businesses or create joint ventures in order to reduce costs.

The cuts are seen as necessary, as Sony is expected to post its fourth annual net loss in a row, forecasting a drop of about $2.86 billion. The company, along with other Japanese electronics makers, suffered a particularly hard fiscal year due to the natural disasters in Japan and other regions in Asia as well as the strong yen that led to unfavorable exchange rates.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Linksys EA6900 AC Router

As AC networking begins to makes its way into more and more devices you may find yourself considering an upgrade for your home network ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Ooma Office small business VoIP

Voice over IP (VoIP) services have been around for a very long time. Only recently has the implementation become a bit more robust, al ...

Sponsor

toggle

Most Commented

 
toggle

Popular News