In the midst of this worldwide economic downturn, even the electronics behemoth Sony wouldn’t have been able to manage without some cutbacks. A few months ago, Sony initiated a vast restructuring program that would affect all aspects of their business. Sony’s CEO, Sir Howard Stringer recently reported that the cutbacks are going well, and are actually saving the company billions.
This is what Stringer had to say:
“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.
I can tell you we believe business is improving, and we hope to improve shareholder value in the months ahead. We’re working on profit recovery and growth strategy, that’s what we’re committed to.”
We’re glad to hear that Sony’s situation is improving, and can’t wait to see how the restructuring program will benefit their future product releases. Until next time, stay tuned on PlayStation LifeStyle for all your gaming news.