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“No sacred cows” for Sony as losses total $6.4bn Wednesday, 11th April 2012
Japan’s Sony Corp has doubled its forecasted annual loss to USD 6.4 billion, due to a tax charge in the US.
The announcement came as the electronics and entertainment giant refused to confirm reports of 10,000 redundancies, although chief financial officer Masaru Kato added that all options were under consideration as the company pushes ahead with a restructuring drive.
“We will force through reforms, and there will be no sacred cows,” Kato said. “The company management takes these numbers very seriously.”