Sony Corp., which expects to suffer a record loss for the latest business year, announced Thursday it is considering tying up with rivals to get its money-losing TV business back into the black by the end of March 2014.
The company also confirmed that it will lay off 10,000 employees worldwide, or 6 percent of its workforce, by the end of next March, confirming earlier media reports. The move is aimed at cutting fixed costs by 60 percent and operational costs 30 percent in two years.
"I am determined again to reform and revive Sony. There is no other time that Sony can change," President and Chief Executive Officer Kazuo Hirai, who replaced Howard Stringer on April 1, said at a news conference in Tokyo.