Sony To Cut 10,000 Jobs This Year

Sony Corp

reported that it expects sales of 8.5 trillion yen ($104.9 billion) and an operating income margin of more than 5% by fiscal 2015. Sony also projects sales of ¥6 trillion and an operating income margin of 5% in its electronics business by FY15. The company announced that it will lower 10,000 jobs, or about 6 percent of its global workforce in fiscal 2012. Sony estimates to take restructuring costs of 75 billion yen this fiscal year. Sony shares closed at $18.75 yesterday.