'Sony will change' promises CEO, as company slashes jobs
Sony says it will cut around 10,000 jobs by March 2013, after the electronics company this week doubled its forecasted annual loss to $US6.4 billion.
New CEO Kazuo Hirai is facing pressure to staunch losses at the company, stemming from a struggling television unit and increased competition in consumer gadgets from Apple and Samsung.
"We have heard a multitude of investor voices calling for change," he said. "Sony will change. Sony has always been an entrepreneurial company. That spirit has not changed."
Sony will looks to stem losses in its television operations, and boost sales in the fast-growing medical sector.
Sony, along with other Japanese manufacturers Sharp and Panasonic are predicting combined losses of $21 billion, as they struggle with weak demand and a strong yen.