Struggling electronics giant Sony announced today in Japan a restructuring plan to get back on track.

Sony plans until 2007 to lay-off 10,000 employees. Sony is also going to streamline it's product offering and reducing the number of products the company will develop.
Sony plans a cost reduction of 2,000 hundred million Yen until 2007.
The Cell Chip and High-Definition related technologies are central points of the growth strategy.
The statement is pretty long and has many details on how Sony wants to become successful again.
More details in this Sony press-release (Japanese). Update: The Sony Strategy Plan is now also available in English at the US Sony site.