Electronics giant Sony has announced that it will be closing 20 of its US stores by the end of this year. This news comes shortly after the PlayStation developer publicly declared they would be selling their PC division in a bid to combat heavy losses.
Sony has already gone ahead with plans for foreclosure, by shutting down six stores – something that occurred at the beginning of 2014. As a result of that and these upcoming closures, around 5,000 employee layoffs are expected to occur across the globe by the end of the fiscal year, with 1,000 individuals being laid off by the end of 2014.
President and chief operating officer of Sony Electronics, Mike Fasulo, released a statement to the press saying these moves were “absolutely necessary to position us in the best possible place for future growth.” However, he admitted the decisions had been tough.
Fasulo went on to express confidence that the cut-backs can turn the business around, and said that the company hopes to continue in their endeavour to provide “flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”
With 31 stores currently in existence in the US, this will leave just 11 left for customers.
A full list of the 20 Sony stores expected to close by the end of this year can be found on Polygon.
What does this mean for Sony‘s future? Will the cost-cutting methods help save the business, or does this spell the end for the console leviathan? Let us hear your thoughts in the comments below.
Published: Feb 26, 2014 05:10 pm