Sony to Cut 10,000 Jobs Worldwide

The technology giant is reportedly slashing workforce as part of an effort to get back to profitability

Sony Corp. plans to slash 10,000 jobs worldwide over the next year as part of a push to return to profitability after four years of posting losses, according to a report Monday in the Nikkei business daily.

The cuts would represent 6 percent of Sony's global workforce. 

A spokesman for Sony declined to comment on the report. It comes two months after it was announced that Kazuo Hirai will take over as chief executive officer of the struggling technology giant.

Also read: Michael Lynton to Become Sony Corp. of America CEO

Sony is struggling to regain its financial footing and former dominance in the consumer electronics field. Last year it was also hurt by the earthquake and tsunami in Japan and later flooding in Thailand.

A strong yen has also depressed the Japanese company's overseas earnings.

Now that he is in control, Hirai is working to bolster sales in its flat-panel TV business and win back customers lost to Apple, which has cornered the personal music business with its iPods and iPhones. 

Hirai has also been shaking up Sony's corporate ranks since taking the reins from Sir Howard Stringer, including placing Sony Pictures chief Michael Lynton in charge of Sony Corporation of America. Lynton oversees the company's entertainment properties. 

Last quarter, Sony reported a $2.1 billion loss for the period ending Dec. 31 on a 17.4 percent drop in sales to $23.4 billion. Sony also projected a deeper loss for the fiscal year, increasing its estimates to a $2.9 billion shortfall — more than double the $1.18 billion forecast in November.

Hirai and Stringer both plan to forgo their bonuses for the past fiscal year, according to the Wall Street Journal.