Sony CEO: restructuring is “an ongoing process”

By Matt Martin, Wednesday, 8 January 2014 08:22 GMT

Sony boss Kaz Hirai has said that restructuring plans across the business will be ongoing as it looks to remold the company and play to its strengths.

Speaking to BBC Breakfast this morning, Hirai said that following a disappointing quarter where the company was forced to slash profit projections by 40 per cent, the business continues to looks for ways to save money in areas that are not performing to expectations.

“If we’re talking about restructuring it’s something that we’ve undertaken already in the past,” he told the BBC. “Some of our businesses are growing so those areas will have more and more employees. Other businesses where it’s shrinking, we may have to restructure. That’s part of business. It’s not something we decide on one day, that’s an ongoing process.”

“If you look at it from a quarterly perspective it was a disappointment but one quarter does not make the entire business,” he added, noting that all companies can be punished by factors out of their control like a fluctuating exchange rate.

“At the same time every quarter matters so it’s about making sure we have the best products, that we do it in the most efficient way, and there are some things we can’t control like the exchange rates. We need to make sure the business is robust enough so that it can deal with fluctuations in the exchange rate.”

Yesterday Sony announced it had sold over 4.2 million PlayStation 4 consoles but when pushed by the BBC as to whether it was ready to declare itself the victor in the fight against Microsoft’s Xbox One, Hirai just reiterated previous comments that; “I’ve always said that a console business is a five to ten year proposition.”

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