The Wall Street Journal reports Sony (NYSE:SNE) will cut 10,000 jobs globally and reductions could take place over the next two fiscal years. This will be the second time the company has cut a large amount of jobs, the first being in 2008 when a number factories closed and 16,000 jobs were cut.Sony’s new CEO Kazuo Hirai will reveal the company’s restructuring plans this Thursday and will focus on the electronic business, which has been competing against Samsung and Apple (NASDAQ:AAPL).In the last fiscal year from October to December, Sony lost $159 billion yen and more than doubled its expected loss for the fiscal year.Sony (NYSE:SNE) has potential upside of 20.1% based on a current price of $20.01 and an average consensus analyst price target of $24.04.
