Posted: Feb 26, 2014 7:47 PM by Michael Marsh
Updated: Feb 26, 2014 7:47 PM
Source: Associated Press
LOS ANGELES- Sony says its closing about two-thirds of its stores in the U.S.as part of a company restructuring.
The closings affect 20 stores in several states, but Sony is keeping open eleven stores, including the flagship store in New York.
Sony also announced 5,000 job cutbacks earlier this month. A thousand of those will come from Sony Electronics, mainly in the U.S. and Mexico before March of 2015.
Sony says the moves were "extremely tough" but are necessary to put the company in position for growth.