Summary Box: Sony to cut 10,000 jobs

Summary Box: Sony to slash 10,000 jobs, pledges to turn around money-losing TV business

Associated Press
Summary Box: Sony to cut 10,000 jobs
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Sony Corp. President and Chief Executive Officer Kazuo Hirai, third from left, poses for photographers with the corporate executives, from left, Executive Deputy President Hiroshi Yoshioka, Executive Vice President and Chief Financial Officer Masaru Kato, Hirai, EVP Tadashi Saito, EVP Shoji Nemoto, and EVP Kunimasa Suzuki after a press conference in Tokyo, Thursday, April 12, 2012. Hirai outlined his business strategy and pledged to revive the electronics and entertainment company. (AP Photo/Shizuo Kambayashi)

TRIMMING THE PAYROLL: Sony Corp. says it will slash 10,000 jobs, or about 6 percent of its global workforce.

PROMISES, PROMISES: Sony says it will try to turn around its money-losing TV business over the next two years. The company says it plans to cut fixed and operating costs to do so.

THE BACKDROP: Earlier this week, Sony more than doubled its annual net loss projection for the fiscal year through this past March. That would be its fourth straight year of loss and worst loss ever.

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