http://finance.yahoo.com/news/sony-cut-5-000-jobs-062741254.html

TOKYO, Feb 6 (Reuters) - Sony Corp, under pressure to shore up profitability in its electronics business, unveiled a restructuring plan on Thursday that will cut 5,000 jobs and trim 100 billion yen ($988 million) a year from fixed costs, while splitting off its loss-making PC and TV units.

The PC division, as widely expected, will be sold to investment fund Japan Industrial Partners, which will set up a separate company to take over the operations. Sony will initially hold a 5 percent stake in that company.

Sony also said it will split its TV division off into a separate company by July 2014.

The job cuts, which will include its TV and PC divisions, are to be implemented by March 2015, while the cost savings are to kick in by the following 2015/16 financial year.

Yeah, unfortunate but it had to be done for the survival of the business.

Wow, didn't expect that. I thought the TV division would be vital to their unified content network and especially PSNow.

I am glad they got rid of their VAIO business... Their laptops are the worst, and the value for what you pay is almost Apple bad... Now, no more consumers have to deal with being ripped off from Sony's laptop division... Thank the lord!

And it was pretty clear from the years past that they are gonna axe their TV business eventually too... I think this restructuring/overhaul, while sad as many people loses their jobs, is a good step for Sony. Their brand has been way to tarnished by their shitty, overpriced, underperforming laptops and their over-priced TVs... Asus for Laptops and Samsung for TVs is the way to go imo

They didn't / will not sell their TV division, they are just turning it into a subsidiary company. The Tv division will probably get its own budget , profit and financial reports.

Yea, Asus Laptops have the best price/performance around as well as great durability! When I got my N53JF Asus laptop from NCIX for $1200 a few years ago, it came with an on year Accidental Damage warrenty free from Asus as well as 2 year, 2 way free shipping warrenty from them as well... I am glad I never had to use it but damn, that is some warrenty they got there!

And I love Samsung Displays, from my Galaxy S4 to my 24 inch 1080p monitor, Samsung's displays just be soooo gooood!!

But yea, I think these two companies will be the way of the future for many things and rightfully so! Both of them are innovating like everywhere

I wish they just sold off the TV division. It has caused them such huge loses for so long now.

Good move by Sony. The need to stop the bleeding.

Drastic, but necessary; now the company can finally stop hemorrhaging money.

sony not doing well :(

hopefully these actions will set them on track to big profits. I wonder if that bold prediction that sony would go bankrupt in a few years might be true?

If this doesn't stop the bleeding then nothing will.