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Sony closing 20 U.S. stores


San Diego -- As part of a restructuring, Sony Electronics announced plans to close 20 U.S. Sony stores, along with a total staff reduction of one-third by the end of the calendar year.

"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," said Mike Fasulo, President and COO of Sony Electronics. "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."

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