The Investor SA

4 September, 2014

Werne van der Merwe

 

Sony, one  of  the  world's  largest  electronic  operations have declared their bankruptcy in recent pass, making them the fourth largest corporation to have ever gone bankrupt after motor giants GM (General Motors), telecoms firm WorldCom and  the investment  bank  Lehman  Brothers. "Tough but fair" is how Kazuo Hirai (CEO of Sony corporation) laid down  Sony's  restructuring  plan  as  he spoke to the media in Tokyo, a few hours after filing bankruptcy. Kazuo Hirai also said "Building a leaner Sony will  come  at a cost" after acknowledging that they are making tough sacrifices  to  keep  the company afloat, but  the people  who  are  making  the  most  sacrifices  are  stakeholders,part  suppliers,  dealers,  debtholders,

shareholders, workers and retirees.