![]() In January, the studio laid off an undisclosed number of people from its Sony Pictures Imageworks and Sony Pictures Technologies groups. The studio has said it will slash at least $350 million in overhead and has been laying off employees. Sony Pictures, a unit of Sony Corp., is in the midst of a major cost-cutting initiative. However, the film and television studio’s profit was down 4.2% from a year earlier. 31, a significant improvement from the previous quarter, when it lost $181 million. As part of the PC and TV moves, Sony said it expected to cut about 5,000 jobs - 1,500 in Japan and 3,500 elsewhere - by March 31, 2015.Īlso on Thursday, Sony Pictures Entertainment reported a profit of $231 million in the fiscal third quarter that ended Dec.
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