Sony starts its string of layoffs today, shutting down 20 stores across the US and laying off approximately 1000 employees.
In its prime in 2008, Sony had 44 stores in the US, and was the 20th largest CE retailer in 2012. Of course, these stores sold not only Playstation products, but Sony’s TVs, PCs, phones, tablets, etc.
Sony Electronics COO Mike Fasulo said this about the layoffs:
While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth.
Sony has projected a loss of $ 1.1 billion at the end of this financial year, in spite of brisk sales for the Playstation 4.