Sony has revised its full-year earnings projections for the fiscal year ended March 31st to include a tax hit that will see the company report a record $6.4 billion loss. The net loss will be twice what the consumer electronics giant projected, and it marks Sony’s fourth consecutive annual loss. “There have been several reasons for our poor results,” Sony CFO Masaru Kato told reporters at a briefing Tuesday morning. “We are aiming for a rebound and for this we have made management changes.” Kato cites poor demand and a strong yen among the causes for Sony’s poor results. Reports surfaced earlier this week stating that Sony plans to cut as many as 10,000 jobs in the coming years, or roughly 6% of its workforce, in an effort to cut costs. The company plans to reveal a new strategy on Thursday that CEO Kaz Hirai hopes will turn its struggling business around.

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Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.