Sony cuts 1000 US jobs, puts former Tokyo headquarters on sale

Although Sony hardly ever shows signsof weakness, its consumer electronics business isn't as glossy on theinside as it seems on the outside. According to a WSJ report, Sony islooking to sell its former former headquarters and surroundingbuildings in central Tokyo. In addition, Sony plans to cut around 1000 work positions in the USA - a one fifth ofthe company's planned global staff reduction for 2014.

As unfortunate as it may seem - Sony isbasically putting its birthplace for sale, and people will be losingtheir jobs, the company must be commended for fearlessly disposing ofits unprofitable ventures. As theJapanese media said, there are "no sacred cows" here.Speaking of which, last year Sony parted ways with its USheadquarters at 550 Madison Avenue, NYC - the famous Sony tower. Italso sold off one of its main buildings in Tokyo, and both buildings went for $1.1billion. In addition, this year the company sold its VAIO computerbusiness to Japan Industrial Partners.

The "Gotenyama" complex inTokyo's Shinigawa Ward became home to Sony's founders, Akio Moritaand Masaru Ibuka, way back in 1947. Allegedly, it's there where theyinvented revolutionary pieces of technology, such as the transistorradio, the Walkman music player, and the Trinitron TV. However, Sonyofficials claim that the true birthplace of the company, where all theengineering history happened, is now a historic museum. And that's not up for sale.

Now that Sony has shed off the extraweight of its PC business and real estates, it will continueto focus predominantly on mobile technology, entertainment, andphotography. The company expects a loss of $1.1 billion until March2015, due to costs associated with maintaining its struggling TV andPC divisions.

source: TheWall Street Journal