SAN DIEGO - Sony Electronics announced Wednesday that it will layoff about 400 employees in its Rancho Bernardo office in an attempt to remain competitive in the market.
The Toyko-based company said the restructuring will affect a total of 1,000 employees in the U.S. It will also close 20 stores excluding its Fashion Valley and UTC mall locations.
Sony president and COO Mike Fasulo described the move as "extremely tough" but "absolutely necessary."
“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," he stated in a press release.
The company stated it "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."
The news comes after Sony announced earlier this month that it would cut 1,500 jobs in Japan and 3,500 worldwide.