Shares finished down 0.6% in Tokyo.
Sony Corporation of America has already cut about 100 from a 700-person workforce, the Post says, with “most of the senior vice president titles and above” on the way out. “The parent company is taking over,” its source said. “They don’t need a corporate structure in the U.S.”
The American unit includes Sony Pictures, Sony Music and Sony Electronics. Sony Pictures is currently in fifth place in studio market share this year.
Sony’s ADRs hit a 52-week high of $31.33 last week; they’re up 21.9% YTD.
Thankfully, this will not affect Sony’s gaming division which is widely understood to be Sony’s most successful division since the release of the PS4.
Games division not affected. pic.twitter.com/hs3DprRYaP
— ZhugeEX (@ZhugeEX) July 21, 2016