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Sony Will Spend $926 Million on Restructuring

Apr 12 2012, 3:06pm CDT | by , in News | Technology News

Sony Will Spend $926 Million on Restructuring
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Sony has taken a beating

It has been a bad week for Sony. The company has announced it expects to take a massive loss this year and will restructure resulting in the loss of 10,000 jobs. Not all those 10,000 employees will be laid off, some jobs will go to other companies via unit sales and other changes.

Sony announced today that it expects to spend $926 million on restructuring fees in fiscal 2012. Sony's fiscal 2012 ends on March 31, 2013. This week Sony announced a $6.4 billion net loss for the full year that ended on March 31, 2012. The major restructuring efforts are in part due to that massive loss.

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