Following a pretty substantial loss at the end of last year ($2.1 Billion) - Sony have announced they'll be cutting 10'000 jobs worldwide (about 6% of their workforce).

The Billboard report points out that the news has yet to be officially confirmed, though it's expected to be announced this Thursday.

It won't effect the music side of the company (Columbia, Epic etc).

Update

Sony have confirmed the news - "implementing a rapid decision-making approach that draws on the strengths of the entire Sony Group as 'One Sony'."

• Key initiatives to transform the electronics business are:
• 1. Strengthening core businesses (Digital Imaging, Game, Mobile)
• 2. Turning around the television business
• 3. Expanding business in emerging markets
• 4. Creating new businesses and accelerating innovation
• 5. Realigning the business portfolio and optimizing resources