Sir Howard Stringer, CEO of Sony Corporation since June and the company's first non-Japanese chief executive, has revealed a turnaround plan, promising to return the company to profitability in the next year. Included in the plan are product eliminations, closing 11 of 65 factories, reduction of 10,000 jobs and organizational changes aimed at improving communication between Sony's autonomous divisions in an effort that is projected to save almost $2 billion over the next two and a half years.
See "Sony Plans 10,000 Job Cuts", Martin Fackler, The New York Times, September 22, 2005