By Sam Richardson

Sony has posted record losses of £4bn in its last fiscal year. It also reported that it would eradicate around 6 percent of its workforce worldwide, which represents a figure of around 10,000 jobs. New CEO Kazuo Hirai announced on the same day that the company’s strategic and financial targets for the next 3 years would be vastly different from expected.

Sony were one of the organisations hit most drastically by the two natural disasters in 2011. Firstly the earthquake in Japan impacted on some of the firms factories; before the Thailand floods affected storage supplies for computer products. There is also the issue of the Japanese Yen, which has been at such a high point that it has adversely affected any business that relies heavily on export.

So how will Sony turn this around?

During his press conference Mr Hirai announced that the company will reorganize to focus on three core areas- digital imaging, games consoles and mobile devices. It hopes that these changes will help to generate sales of $10.5bn by the end of the 2015 fiscal year; representing a profit margin of 5%.

The reduction in staff includes from companies being sold, such as its chemicals division. More will be from the TV division that is fa...Read More