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Sony keeping silent on Times rumor

Article claims studio is mulling massive restructuring

Sony is refusing to comment on a report in the Times of London that alleges it is mulling massive restructuring, including shuttering entire divisions.

These would come on top of the $1.1 billion in cuts, including 16,000 job losses, that Sony announced in December.

The Times referred only to “company sources” in its story.

Sony spokesman George Boyd has said that “officially we can’t comment on speculation of this type” and that any announcements will not be made immediately.

According to Boyd, any statement is likely to come after the four-day Consumer Electronics Show in Las Vegas, which begins on Thursday, where Sony will hold its scheduled press conference and presentations.

“We will wait until we announce third quarter results at the end of the month,” he said.

Analysts believe that more steps are necessary to stem losses from slow sales of Sony electronics products, including its PlayStation 3 game console and Bravia flat screen TVs.

The December cuts did not hit Sony’s pictures division. 

Sony has already indicated that profits for the 2008 fiscal year, ending in March, will be down by half to $2.18 billion, but some analysts have said that estimate is far too optimistic

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