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The Canadian Press - ONLINE EDITION

Sony to close two-thirds of US stores as part of major restructuring

LOS ANGELES, Calif. - Sony Corp. says it is closing about two-thirds of its U.S. Sony Stores is part of a wide-ranging company restructuring it announced earlier this month.

It also said that 1,000 of the previously announced 5,000 job cuts would come from its Sony Electronics unit, mainly in the U.S. and Mexico. The cuts are to take place before March 2015.

Sony Electronics President Mike Fasulo said in a statement the moves were "extremely tough" but were necessary to position the company for future growth.

The closings affect 20 Sony Stores in several states, including five in California and two in Virginia. It is keeping open 11 Sony Stores including its flagship store in New York, and several stores in California, New York and Florida.

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Online:

U.S. Sony Store closings: http://bit.ly/1hgWcTQ

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