Sony Corp. recently announced plans of cutting down a total of 10,000 jobs within the organization. This number is equivalent to 6% of the global workforce of the company and this strategy would supposedly be part of a new "restructuring plan" under the new president of Sony.

Chief Executive Kazuo Hirai, the new CEO for Sony also announced a strategy that will be implemented for the next two fiscal years ending in March 2014. CEO Kazuo Hirai replaced Howards Stinger as the CEO for Sony. Mr. Hirai mentioned before that his main focus for the firm is to "streamline the company without wrecking product pipelines that could deliver innovations". This means that the company is planning to focus more on their "core processes" and in turn, non-core processes in the company would be the ones to suffer from the impending job cuts. Aside from that, the television-set division would also be affected with this strategy since it has remained unprofitable for the past years and there are reports forecasting that this trend would continue unless changes would be implemented. Other areas that could be severely hit by this employment loss would be jobs from the development, manufacturing, and management departments.

This is not the first time Sony has implemented drastic business decisions in order to keep up with the challenging economic situation. Howard Stringer, the former CEO of Sony also implemented similar business strategies during the global financial crisis last 2008. At least 16,000 jobs were cut and several factories were closed down during this period.

Sony has reportedly lost US$2.7 billion from the last fiscal year which ended last March. The employment cut would supposedly help the company recover from the loss as it is now planning to focus more on its core consumer electronics businesses which includes smartphones, tablets, and network services. The stiff competition in the field also proves to be a challenge for Sony as Apple and Samsung continues to be the dominant players in the smartphone, tablet, and even the TV market-a field that was once dominated by Sony.