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. Last Updated: 07/27/2016

Sony to Restructure

TOKYO -- Japan's Sony Corp., maker of the Walkman and the PlayStation game player, unveiled a sweeping restructuring plan Tuesday that will cut 17,000 jobs over four years and consolidate its industrial empire.

The job cuts, which total 10 percent of Sony's global work force, are scheduled to be completed by the end of March 2003. The company will also slim its worldwide network of 70 manufacturing facilities to 55 over the same period.

The company said the cuts would affect operations in Asia, Europe and the United States but did not detail the changes that would result.