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September 24, 2005

Sony Cuts Jobs, Emphasizes PS3


Business

Sony Corp. plans to cut around 10,000 jobs, close eleven plants and reduce or close fifteen unprofitable operations as part of a major restructuring of the company.

Ryoji Chubachi, Sony's president and electronics CEO, made specific comments relating to Sony's video game holdings, in both the PlayStation 3 and PSP, commenting in particular of the costs related to designing the PlayStation 3: "Game-related investment has been wrapped up and we hope the game business will recoup the investment."

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