Sony Electronics to Trim Organization and Close 20 Retail Stores

Sony Electronics to Trim Organization and Close 20 Retail Stores

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San Diego, CA—Sony Electronics revealed plans to restructure its organization to “maintain its competitiveness in an evolving consumer electronics market.” In line with parent company Sony Corporation’s February 6 earnings report outlining an estimated headcount reduction of roughly 5,000 employees globally, Sony Electronics confirmed a total staff reduction of one-third by the end of the calendar year, affecting approximately 1,000 employees across all sites.

In addition, in an effort to further streamline costs and continue its focus on existing partner relations, Sony announced the closure of 20 U.S. Sony Stores. The company will also place an increased focus on its premium products—including its digital imaging line, high-resolution audio and full suite of professional solutions—while leveraging its strengths in hardware, content and gaming.

“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” said Mike Fasulo, president and COO of Sony Electronics. “I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”

Fasulo added that Sony plans to maintain “its position as a leader in the electronics industry, pushing the limits of innovation with products and experiences exclusive to Sony. It continues to drive its industry leadership in premium products across all of CE, including all-things-4K, and further plans to reinforce its market leadership through strengthening its 4K product lineup and bolstering 2K models in 2014, with a continued commitment to the future success of its U.S. television business.”

Sony announced 11 retail stores will remain open at the following mall locations: Fashion Valley and University Town Center malls in San Diego, California; South Coast Plaza in Costa Mesa, California; Stanford in Palo Alto, California; the New York flagship store at Sony Plaza in New York City, New York; Roosevelt Field in Garden City, New York; Walt Whitman in Huntington Station, New York; the Mall at Millenia in Orlando, Florida; Aventura in Aventura, Florida; Houston Galleria in Houston, Texas; and the Americana at Brand in Glendale, California. sony.com

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