TweakTown
Tech content trusted by users in North America and around the world
6,135 Reviews & Articles | 39,406 News Posts

Sony sells off PC unit, TV business, and will lay off 5,000 employees

Not only is Sony looking to sell its PC business, but its TV line will get the axe, and thousands of employees will be handed their pink slips (NYSE:SNE)

| Business, Financial & Legal News | Posted: Feb 6, 2014 6:05 pm

In addition to selling off its VAIO PC business unit, Sony also plans to spin off its TV lineup as 5,000 employees will be given walking papers by 2015, according to recent reports.

 

TweakTown image news/3/5/35292_01_sony_will_sell_vaio_pc_unit_tv_business_and_lay_off_5_000_employees.jpg

 

As part of its latest restructuring plan, Sony announced it will cut 5,000 global jobs by March 2015 - and hopes to cut almost $1 billion per year in fixed costs. Sony also plans to spin off its TV division into an independent company within the next five months.

 

Japanese electronics manufacturers have struggled to compete against rising global competition, especially from Korean and Chinese rivals. Japan Industrial Partners will secure the Sony PC division, ensuring it won't head to Lenovo, the Chinese PC manufacturer that is No. 1 in global sales.

NEWS SOURCES:Reuters.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases