Sony to close 20 US retail stores

As part of a worldwide cost-cutting drive, Japanese technology giant Sony has announced it is closing 20 of its 31 US retail stores.

Sony is closing 20 US retail stores as part of the streamlining of the Japanese electronics and entertainment giant.

The company said in a statement Wednesday the move would leave 11 retail stores in the United States.

Closing stores is part of an effort by Sony Electronics to cut 1000 jobs, or one-third of its staff - part of a global workforce reduction by Sony of 5000 announced earlier this month.

"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," said Mike Fasulo, president of Sony Electronics.

"I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer."

Sony on February 6 warned it would book a $US1.08 billion ($A1.21 billion) annual loss and cut 5000 jobs while exiting the stagnant PC market this year as the once-mighty electronics giant struggles to reinvent itself in the digital age.

Sony will keep open its flagship New York retail store among the 11 remaining. The 20 closings stretch across the United States, including in California, Florida, Virginia and New Jersey.


Share
2 min read

Published

Updated

Source: AAP

Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world