March 19 Sony Pictures Entertainment plans to
cut 216 jobs in California and has filed with the state
Employment Development Department, according to a person
familiar with the matter.
Reuters reported on Monday that Sony Pictures is expected to
announce layoffs throughout its studio operations in the United
States and abroad. Among the units that will be hit is the Sony
interactive team that supports digital marketing.
Sony Pictures has about 6,500 employees worldwide.
Under pressure from hedge fund manager Daniel Loeb to
improve profitability at its studio, in November Sony hired
consultancy Bain & Co to identify more than $100 million in cost
cuts through layoffs and other means.
Sony Pictures Entertainment earlier replaced its film
marketing chief and said it intended to reduce its film
(Reporting by Ronald Grover in Los Angeles and Supriya Kurane
in Bangalore; Editing by Gopakumar Warrier)