Sony Corp. announced Thursday it will slash 10,000 employees, or about 7 percent of its global workforce, and close 11 production facilities as part of a sweeping restructuring plan in a bid to revive its fortunes.
The plan is aimed at cutting costs by 200 billion yen by the end of March 2008, Sony said.
CEO Howard Stringer said the company will focus its resources on "champion products," including the PlayStation, LCD TVs, Walkmans and camcorders, and withdraw from 15 business categories, which he declined to name.