Sony's new chief plans to axe 10,000 jobs

The new boss of Sony pledged to shake up the Japanese electronics giant yesterday in an attempt to catch up with faster-moving rivals Samsung and Apple. Kazuo Hirai is cutting 10,000 jobs – 6 per cent of its global workforce – and aims to reduce costs at its loss-making TV division by 60 per cent. But analysts said he must do more to streamline the conglomerate that still sprawls across digital cameras, smartphones, movie blockbusters, PlayStation games consoles and financial services.

Mr Hirai, a 26-year Sony veteran who replaced Welshman Sir Howard Stringer as Sony's chief executive earlier this month, doubled the forecast for the company's annual loss earlier this week to $6.4bn, its fourth consecutive year of losses.