KazuoHirai 19 Nov

According to a Bloomberg report, Sony has hired management consulting firm Bain & Company to identify $100 million in cuts across its entertainment division.

Sony Chief Executive Officer Kazuo Hirai is reportedly hosting a conference on November 21st in Culver City, California to discuss the company’s cost cutting strategy. It is believed that the cuts will include job losses, although it remains unknown how the cuts will be divided among Sony’s entertainment divisions.

In late October, Sony reported a second quarter financial loss of ¥19.3 billion ($197 million). The company sold one million PlayStation 4 units in its first 24 hours on shelves. SCEA boss Jack Tretton also recently projected that three million PS4’s would be sold by year’s end.

(via Joystiq)