Sony has just announced a monster new plan to restructure its electronics business.
By implementing the new plan, Sony hopes to achieve sales of 8.5 trillion yen (around $104.9 billion), an operating income margin of more than 5 percent, and return on equity of 10 percent by fiscal 2015.
"Sony estimates that the headcount across the entire Sony Group will be reduced by approximately 10,000 in FY12 ," wrote the company. "Sony is projecting restructuring costs of 75 billion yen in FY12."
This confirmed reports earlier this week that the company would be cutting 10,000 jobs.
The plan includes five initiatives:
1. Strengthening core businesses (Digital Imaging, Game, Mobile)
2. Turning around the television business
3. Expanding business in emerging markets
4. Creating new businesses and accelerating innovation
5. Realigning the business portfolio and optimizing resources
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