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Sony to post ¥520 billion loss due to tax expenses

Sony has said it's to report a loss of ¥520 billion ($6.4 billion) for the financial year ending March 31 due to additional tax expenses from the US.

it comes after reports it was set to lose 10,000 employees, a reduction of 6% of its global workforce.

The loss is larger than its previously-predicted loss of ¥220 billion back in February. Sony shares were down 3% before the announcement, the biggest one-day drop in three weeks.

New Sony CEO Kaz Hirai is expected to outline the company's new strategy in a call this Thursday.

Via Reuters.

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Johnny Cullen

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Johnny has experience at a wide range of games media outlets, having written for Eurogamer, Play Magazine, PC Gamer, GameDaily, and more. He worked at VG247 pumping out news at an astonishing rate for several years. More recently, he founded the games website PlayDiaries.

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