 "Tax expenses hit Sony, co sees record $6.4 bn net loss")
Sony Corp said on Tuesday it will post a record net loss for the year that ended March 31 of 520 billion yen, more than double a February forecast as a result of additional tax expenses.
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The consumer electronics company, said, however, it plans to return to an operating profit this financial year, forecasting a profit of 180 billion yen after an estimated loss of 95 billion yen for the year just ended.
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On Monday, the company said it plans to layoff around 10,000 employees in a bid to turnaround its operations.
Reuters
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