Sony Restructuring Includes 20 Store Closures

Today in a press announcement, Sony revealed plans to restructure its business, something it is doing in an effort to keep its "competitiveness" in what it calls an evolving electronics market. The move is bad news for some of its employees, namely those working at the majority of its Sony Stores, which are slated to be shut down.

A total of 20 Sony Stores will be shut down, with their locations spanning from Washington state to Pennsylvania, as well as a slew of southern states and a few in California. This will leave 11 Sony Stores in operation, many of which are located in California, as well as a handful in Florida, Texas, and New York.

Following some other big global cuts in employee numbers, the company plans to further reduce worker numbers by 1,000 employees across all its sites by this year's end. That's the extent of the details for now, except that Sony plans to put more focus on "premium products" in the future, particularly in its audio, camera, and professional solutions lines.

Said Sony Electronics' President and COO Mike Fasulo, "While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth. 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."

SOURCE: Sony