Sony Revises Expected Loss to $6.4 Billion

http://www.nytimes.com/2012/04/11/business/global/sony-revises-expected-loss-to-6-4-billion.html?_r=1&ref=business

 Sony more than doubled its projected net loss for the past financial year to ¥520 billion, its worst loss ever, as an additional tax expense hurt a company already battered by heavy losses in its television business, a strong yen and natural disasters in Japan and overseas. During a news conference at its headquarters in Tokyo on the projected annual loss, equivalent to $6.4 billion, the electronics and entertainment company stopped short of confirming reports that it planned to eliminate 10,000 jobs, a weighty move in a country where staff cuts are considered a breach of a company’s social contract.