Sony ‘to axe 10,000 jobs’

Sony has announced plans to slash 10,000 jobs, or roughly six per cent of its total workforce.

The company has struggled through four years in the red, and the new CEO Kazuo Hirai is looking to trim costs in non-profitable sectors.

"Under a new CEO, it’s easier to cut jobs or go in a new direction," Yuuki Sakurai, head of fund manager Fukoku Capital told Reuters.

"One of the things I’d like to see is that they shift their resources to other areas outside TVs … If they stick to TVs, they may have to fight a war they may not be able to win."

Though TV sales are particularly rough, the strong yen and competition from Apple and Samsung aren’t helping.

Hirai is expected to unveil further plans to get the company back on track in a briefing on Thursday.