Reginal Thomas
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Sony Looking To Make $100 Million In Cuts

Sony Corp. has hired Bain & Co. to identify $100 million in cuts. The company's CEO Kazuo Hirai will be hosting a conference on Nov. 21 at the company's Culver, California campus. He will be going over his strategy for entertainment. The cuts will include job losses for some of the company's workforce. Hirai wants to lower costs after posting a second quarter loss that allowed Moody's Investors Service to warn Sony's debt rating could be cut to junk. Earlier this year billionaire investor Daniel Loeb criticized Sony's because of the mishandling of their entertainment division which he feels can be very valuable.