Sony Plans Major Spending Cuts

According to the official representatives of Sony Corporation, the Japanese tech giant is planning major spending cuts in the near future. In particular, Sony wants to cut some expenses on its entertainment business by 250 million dollars within 2 year.


 
Sony isn’t planning to make it a standalone business with its own budget and will exercise total control over it.  
 
Moreover, according to Sony’s CEO, the corporation is planning to cut down on the amount of movies produced by Columbia Pictures, thereby redistributing funds by paying more attention to media networks and TV production.
 
Meanwhile, Sony’s stock is consolidating after the recent rally.