Consumer electronics giant Sony Corp. announced it will cut its work force by 10 percent, eliminating 17,000 jobs over the next four years. Besides the work force reduction, the Tokyo-based company will turn three subsidiaries into wholly owned units and eliminate 15 manufacturing facilities around the world.
The cuts will come mostly from limiting the number of new hires, according to Nobuyuki Idei, the company's president. Sony also plans to focus on more profitable product lines, such as laptop computers, digital cameras and video games.