Sony Denies Report of Further Restructuring

Sony(SNE Quote) said it has no plans to announce additional restructuring actions, denying a report that says the company plans a big corporate upheaval that could see job cuts and sweeping changes to management and manufacturing processes.

Company sources told the Times of London that operations across the electronics company are braced for a series of "sacred cow-slaying" measures that they believe will abolish or fundamentally alter many of Sony's long-established business practices.

The report said the restructuring at Sony is likely to be announced after the Consumer Electronics Show in Las Vegas in January. Most of the changes will occur at Sony's domestic Japanese operations in the form of factory closings and the abolition of several major divisions.

However, Bloomberg reports Monday that Sony has no plans to announce any additional reorganization beyond the job cuts and plant closures it unveiled in December.

"We announced the restructuring of the electronics business last month," said Sony spokesman Atsuo Omagari, Bloomberg reports. "We are not planning to announce further restructuring at this time."