Sony to cut 5,000 jobs

Sony is planning to end its PC making venture as it continues to be in loss. In its restructural plan Sony has said that it will cut 5,000 jobs and also split its TV division. Sony said on Thursday that it will start a separate company for its TV division by July 2014.

Sony is likely to sell its PC division to investment fund Japan Industrial Partners which will later take over the operations and set up a new company. Sony will get a 5% stake in that company.

According to Sony the job cuts will be applied to both TV and PC divisions and will complete the process by March 2015.

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