Sony Lays Out Strategic Plan Called 'One Sony'
Sony has announced a major internal reorganization that it hopes will turn the company's financial performance around. The plan, called One Sony, involves laying off approximately 10,000 employees across its business units. The company will focus on its core strengths of gaming, digital imaging, and mobile. Sony also plans to target emerging markets, make fewer TV models, and spin off or divest non-core businesses. Sony recently took on a new CEO, who promised to create a "Sony experience" that will span its product line, including Xperia smartphones, tablets, and laptops. Sony expects to spend about $1 billion over the next year on the reorganizational effort.