Sony Announces United States Store Closures
After poor earnings were reported by Sony earlier this month, the company is now announcing that it plans to undergo major restructuring within the United States. The plans involve closing one-third of the current Sony retail stores located in the United States, representing around 20 physical locations. Mike Fasulo, President and COO of Sony Electronics, noted that the closures will allow Sony to be in a prime position for future growth, even though the decision to close the majority of the stores was difficult to make.
This news comes just weeks after Sony Corporation reported that it was reducing its global employee pool by about 5,000.
Source: Press Release