Sony Responds to 'Sacred Cow-slaying' Report

Japanese electronics giant and PlayStation 3 maker Sony claims that it has no plans to announce another restructuring plan that would see the closure of multiple divisions.

The statement comes in response to a recent report by Times Online, which said Sony was "on brink of upheaval" and that employees were preparing for a "a series of 'sacred cow-slaying' measures" that would see major divisions and factories closed.

"We do not plan to announce additional restructuring measures at this time," Sony spokesman Atsuo Omagari informed Retuers. "We don't have any such plan."

In early December, the company said it was cutting 16,000 jobs, and would reduce focus "unprofitable or non-core businesses," as well as LCD and mobile phone technology. Following the announcement, many analysts said it was too little, too late.