Sony plans to layoff 10,000 employees as transition period continues

Today, Sony confirmed previous rumors that it will be laying off around 10,000 of its employees as the company continues to take part in a transition period following poor financial earnings in the previous quarter. The Japan-based company also outlined a number of divisions that it will seek to improve, including:

1. Strengthening core businesses (Digital Imaging, Game, Mobile)
2. Turning around the television business
3. Expanding business in emerging markets
4. Creating new businesses and accelerating innovation
5. Realigning the business portfolio and optimizing resources

In fiscal 2014, Sony aims to receive a 5% operating margin on $105 billion in revenue.