Sony Layoffs Coming Next Week

Sony Layoffs Coming Next Week

The scope of the layoffs will become clear next week, but sources say the motion picture group will not be hit hard

Sony will lay off employees in its entertainment group next week, according to individuals familiar with the studio's plans. It remains unclear how many people will lose their jobs, but that will also become public next week.

Layoffs have been expected for months.

Sony has been working with Bain & Co. consultants to streamline entertainment operations spanning a film studio, TV studio and music label, among other divisions. TheWrap reported last November that Sony wanted to cut $100 million in overhead, and the studio laid off a few dozen employees earlier this year. The parent company has also been retrenching due to losses on electronics side.

Also read: As Losses Mount, Sony to Cut 5,000 Jobs, Pull Out of PC Business

The entertainment side will continue to cut overhead as it seeks to maximize efficiency and profits. The studio has been trimming its overhead in the wake of a public battle with investor Dan Loeb last summer. Though Sony's board rejected some of Loeb's proposals, CEO Kazuo Hirai and Sony Entertainment CEO Michael Lynton acknowledged a need to be more transparent.

Though Sony is trimming operations, its film studio has brought in several prominent executives, including Tom Rothman and Michael De Luca, to inject new energy. Insiders said Sony would not lay off a lot of people in the motion picture group.

  • Jim

    “Sony has been working with Bain & Co. consultants”

    Ya don't say!

  • Jim

    FIRE RICKY RAPP!!!!!

  • Mitt Romney

    Bain Capital has great ideas. I'm sure Sony will be well served by what they say.

    • meSherri

      Republicans just love lay-offs/unemployment! Who, again, are the “takers”?!

      • John the Hebrew

        Excuse me but it Is liberal democrats that run the movie biz the liberal democrats s are using the cheap labor and state corp welfare of the slave states to enhance their millions. The liberal democrat actors are just fine with destroying the movie careers in California of ALL the below the line crafts

  • F VC

    Typical piece of shit investor, profits before people.

  • Dack Hoober

    How about Sony just not release shitty, high-budgeted turds in their film branch? They wouldn't have to lay ANYONE off (Robocop, White House Down, After Earth, Red Dawn, etc)