Sony to Close U.S. Stores, Sell Tokyo Headquarters
Feb 28, 2014, 8:24 AM by Eric M. Zeman
Sony this week announced plans to shutter two-thirds of its U.S. retail stores. It will keep several open, including its New York City flagship location. The move is being made as part of a cost-cutting measure. Along with the store closings, Sony plans to cut about 1,000 jobs in the U.S. and Mexico, amidst global cuts of 5,000. Last, Sony said that it plans to sell its old headquarters building in Tokyo. Sony used the building, which is now a home for several other businesses, from 1990 to 2007. The planned sale of its old headquarters follows Sony's sale last year of its Madison Avenue building in NYC for $1.1 billion. Sony announced several new devices at Mobile World Congress this week, including the Xperia Z2 and M2 smartphones, the Z2 tablet, and the SmartBand wearable.