Sony to Sell PC Business, Layoff 5,000 Employees

Despite the incredibly success of the company’s launch of the PlayStation 4, major changes are set to take place at Sony.

The company has announced its plans to sell its Vaio PC business and completely reform its TV arm. As a result of this major change, Sony will layoff 5,000 employees over the next year or so. This includes 1,500 people in Japan, and 3,500 overseas. Sony was projecting a fiscal year net profit of $295 million, but, after reconstruction, is expected to post a fiscal year net loss of $1.08 billion. Talk about a difference in results.

This news comes just two years after a company overhaul was announced that lead to 10,000 layoffs. Sony is hoping that with this latest restructure it will lead to long-term cost reductions that are currently estimated to be just shy of $1 billion per year.  In addition to the 5,000 layoffs set to occur, $886 million is going to be allocated in restructuring the company’s expenses over the next year.

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