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Omaha Steve

(99,674 posts) Tue Nov 19, 2013, 05:41 AM Nov 2013

Sony Entertainment looks to cut $100 million-plus

Source: AP-Excite

By RYAN NAKASHIMA

LOS ANGELES (AP) - Sony Entertainment, the movie and music arm of Sony Corp., is looking to cut at least $100 million in costs and has hired consulting firm Bain & Co. to conduct a review of its operations.

That's according to a person familiar with the matter who wasn't authorized to speak publicly about it since the review is not complete. The person spoke on condition of anonymity.

The review comes as Sony prepares to discuss its entertainment business with investors in a push to become more transparent as a company.

Sony CEO Kazuo Hirai and Sony Entertainment CEO Michael Lynton are to speak to investors at the Sony Pictures lot in Culver City, Calif., on Thursday in an event that will be webcast. They will be accompanied by the top executives from the music and television divisions.

FULL story at link.

Read more: http://apnews.excite.com/article/20131119/DAA5CP2G2.html

11 replies

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Highlight:

Sony Entertainment looks to cut $100 million-plus (Original Post) Omaha Steve Nov 2013 OP

It's those damn unions Fearless Nov 2013 #1

Bain & Co? mdbl Nov 2013 #2

Mitt Romney's Bain & Company always has just one answer fasttense Nov 2013 #3

Well if you work for Sony you are fucked davidpdx Nov 2013 #4

Wonder if Bain will charge 200 million to advise them on how to save 100 million. nt valerief Nov 2013 #5

say goodbye to your pensions mitt romney is going to steal it from you leftyohiolib Nov 2013 #6

Imagine the money Sony could save Anarcho-Socialist Nov 2013 #7

Imagine the money Anarcho-Socialist could make sweetapogee Nov 2013 #8

They hired Bain? Arkana Nov 2013 #9

CEO golden parachute bonus time. L0oniX Nov 2013 #10

Yup. ctsnowman Nov 2013 #11

Fearless

(18,421 posts)

1. It's those damn unions

Reply to Omaha Steve (Original post)

Tue Nov 19, 2013, 06:02 AM

Nov 2013

Forcing multinational corporations to pay fairly. Damn them.

mdbl

(4,973 posts)

2. Bain & Co?

Reply to Omaha Steve (Original post)

Tue Nov 19, 2013, 07:30 AM

Nov 2013

Is this the same Bain that Romney co-owns? The Bain and Co that constantly demonstrates compassionate conservatism by getting rid of companies with good jobs and replacing them with minimum wage jobs? Way to go Sony. I hope your company sinks like the Titanic.

fasttense

(17,301 posts)

3. Mitt Romney's Bain & Company always has just one answer

Reply to Omaha Steve (Original post)

Tue Nov 19, 2013, 08:01 AM

Nov 2013

Contract out, outsource and send to China all the labor a greedy corporation can. Better to have all that labor locked up behind barbed wire and prison like walls with armed guards forcing them to work, then to do anything of real value.

But Bain is more a raider of failing corporations than a real consulting firm. I wonder what is really going on.