Feb 26 Sony Corp's electronic
unit said on Wednesday it is closing 20 retail stores in the
United States and cutting 1,000 jobs, as the TV and game console
maker tries to stem losses and regain market share.
The job cuts are part of a previously announced reduction of
5,000 positions globally, or just over 3 percent of its staff,
and fall under a much larger reorganization that includes
spinning off Sony's TV operations and putting its personal
computer division on the block.
"While these moves were extremely tough, they were
absolutely necessary to position us in the best possible place
for future growth," Mike Fasulo, President and COO of Sony
Electronics, said in a statement.
Known for its Bravia TV and Playstation game system, the
Japanese company is struggling to compete against Apple
and Samsung Electronics that dominate the
smartphone, computer and gadget market.