Sony selling divisions, cutting workforce in response to fiscal report

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by KMOV.com Staff

KMOV.com

Posted on February 6, 2014 at 4:53 PM

Updated Thursday, Feb 6 at 5:40 PM

(KMOV.com) — Sony is making changes in hopes of turning around its financial situation.

The electronics company plans to sell its Vaio pc unit to a private equity group.

It’s also cutting 5,000 jobs and spin off its TV division.

The company hopes operating its television business as a subsidiary will help it turn a profit in the 2014 fiscal year.

Sony expects to lose $1 billion this fiscal year.

 

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