Report: Sony seeking $100 million in cuts, includes job losses

November 20th, 2013, 00:07 Posted By: wraggster

Sony has hired management consulting firm Bain & Company to identify $100 million in cuts, Bloomberg reported. The cuts would reportedly include job losses, though how the cuts to the company's costs would divide out among its entertainment divisions is unknown.

The report follows a second quarter loss reported by Sony of ¥19.3 billion ($197 million). As of its late October financial report, the company said it expects to ship 15 million PS3 and PS4 systems combined, with SCEA boss Jack Tretton recently projecting three million PS4 consoles sold by year's end. Sony did manage to sell one million PS4 units in the system's first 24 hours on shelves; Whether that factors in to the reported job losses remains to be seen.

http://www.joystiq.com/2013/11/19/re...es-job-losses/

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