Sony recently announced a corporate restructuring in a bid to reduce costs and return to profitability amidst the economic downturn. This restructuring has now begun to reap rewards.

"We're making good progress in our restructuring efforts and expect to save over JPY 300 billion ($3 billion) in cost reductions in fiscal 2009," said the corporation's CEO Sir Howard Stringer.

"I can tell you we believe business is improving, and we hope to improve shareholder value in the months ahead," he added. "We're working on profit recovery and growth strategy, that's what we're committed to."

Sony lost $1 billion in fiscal 2008, which led to the closing of around eight manufacturing plants and slashing of 16,000 jobs.

http://www.ps3center.net//news/3253/sony-restructuring-saving-3-billion/

That's pretty huge

Over the years, I have noticed that companies can't make large cuts without reducing their overall revenue; and in rare cases I have seen companies lose more money because of what they decided on cutting. What I wonder is how big of an impact these cuts have had on Sony's bottom line

A saving of $3bn is very rarely a bad thing.... they just need another Spiderman!!!! It might reduce some of their revenue, but they should certainly be making more profit this year

Another Spiderman? I'm pretty sure that they killed that golden goose with the third one. Would you really want to see the movie that comes after Spiderman 3?

By the way, I'd like to personally thank Sam Raimi for returning to amazingly hilarious horror movies after those dreadful Spiderman flicks.

Yea perants and teens may think so, but the kids will still swarm

It still made tons of money, according to wiki $250m budget, $890m gross revenue, not bad in my eyes

OMG! Yes, I loved 'Drag Me To Hell'!

It was such a refreshing experience in my opinion!

I think everyone should give that movie a chance.

On topic, it's going to be interesting to see how these cost savings will translate on the financial statements.

Spiderman 3 was pretty damn awesome.

And they are working on spiderman 4. Just look on IMDB.

I hope they'll bring in carnage.

I thought it was great with so many villains and stuff in it.. . It might not be amazingly true to the story, but noone gives a flying fuck so that's alright :p

You are the first individual I have ever witness communicate that Spiderman 3 is good on any level.

I hope Spiderman 4 is nothing like 3. And I can do without carnage, especially if he will receive the same treatment as Venom.

Lets get Vulture, Mysterio or Electro....please?