All is not well over at Sony camp; the company is expected to post its biggest losses in a decade, it revealed today.
The company revealed a revised forecast of -520 billion yen (-£4 billion). Last year the company posted losses of -220 billion yen (-£1.7 billion), making for a total of 740 billion yen lost over the past two years. Ouch doesn’t quite cover it. The company cited tax issues as the reason behind this revision.
As a result, it’s expected that the company will cut 10,000 jobs in the near future. That’s around six percent of Sony’s entire workforce. We’re not sure how much of that will come down to the PlayStation business.
Company boss Kaz Hirai recently expressed his belief that PlayStation division will lead Sony back into profitability. We can only hope he’s right.