In a effort to cut costs and improve its financial situation, Sony is eliminating two divisions at its main electronics unit, promoting three executives and keeping a close eye on its money-losing television unit, Bloomberg’s Businessweek reported on Tuesday. The Japanese company will shut down its consumer products and services group, which handled consumer-level electronics, and the professional device and solutions group, which handled business oriented products and components. Executive Deputy President Hiroshi Yoshioka, who oversaw the professional device and solutions group, will head the company’s newly created medical business unit. Sony spokeswoman Satsuki Shinnaka said all changes will be effective April 1st and are aimed at speeding up management decisions. On the same date, the company will welcome its new president and CEO Kazuo Hirai. Hiari is largely credited with making Sony’s PlayStation game business profitable and will be looking to do the same with the company’s Bravia television unit, which is expected to post its fourth straight annual loss.
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