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Sony Shutters 20 Stores, Axes 1000 Jobs

Sony Electronics announced restructuring plans that will see the company close 20 of its U.S. Sony Stores and cut 1,000 jobs.

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Unedited press release follows:

Sony U.S. Electronics Announces Organization Restructure

SAN DIEGO, Feb. 26, 2014 — Sony Electronics today announced plans to restructure its organization to maintain its competitiveness in an evolving consumer electronics market.

In line with Sony Corporation’s Feb. 6 earnings announcement outlining an estimated headcount reduction of roughly 5,000 employees globally, Sony Electronics confirmed a total staff reduction of one-third by the end of the calendar year, affecting approximately 1,000 employees across all sites. In addition, in an effort to further streamline costs and continue focus on existing partner relations, Sony announced the closure of 20 U.S. Sony Stores

“While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth,” said Mike Fasulo, President and COO of Sony Electronics. “I am entirely confident in our ability to turn the business around, in achieving our preferred future, and continue building on our flawless commitment to customer loyalty through the complete entertainment experience only Sony can offer.”

Sony maintains its position as a leader in the electronics industry, pushing the limits of innovation with products and experiences exclusive to Sony. It continues to drive its industry leadership in premium products across all of CE, including all-things-4K, and further plans to reinforce its market leadership through strengthening its 4K product lineup and bolstering 2K models in 2014, with a continued commitment to the future success of its U.S. television business. The company will place an increased focus on its premium products – including its digital imaging line, high-resolution audio, and full suite of professional solutions – while leveraging its strengths in hardware, content and gaming.

11 Sony stores to remain open

Mall Location
Fashion Valley San Diego, CA Retail store
University Town Center San Diego, CA Retail store
South Coast Plaza Costa Mesa, CA Retail store
Stanford Palo Alto, CA Retail store
NY Flagship, Sony Plaza New York, NY Retail store
Roosevelt Field Garden City, NY Retail store
Walt Whitman Huntington Station, NY Retail store
Mall at Millenia Orlando, FL Retail store
Aventura Aventura, FL Retail store
Houston Galleria Houston, TX Retail store
The Americana at Brand Glendale, CA Retail store

*Sony retail store on SPE lot will remain open

Closing – 20 stores
Tysons, VA
University Village, WA
Galleria Dallas, TX
Forum Shops, NV
Pentagon, VA
Boca Raton, FL
Menlo Park, NJ
Las Americas, CA
Camarillo, CA
Aurora, IL
Gilroy, CA
Wrentham, MA
Pleasant Prairie, WI
San Marcos, TX
Cherry Creek, CO
Dolphin, FL
Century City, CA
Valley Fair, CA
Comcast, PA
Central Valley, N.Y. (Woodbury Common Outlets)