redletterdave writes "Sony will cut about 10,000 jobs, which equates to about six percent of its global workforce, by the end of the year. The move comes after the Tokyo-based electronics firm more than doubled its loss forecast on April 5 to $2.9 billion, and the recent hiring of a new CEO, Kazuo Hirai, on April 1. Hirai looks to downsize Sony and pivot the company in a new direction to get out of the red for the first time in four years. The company will reportedly sell off its chemical products division, cutting about 3,000 workers in the process, and also make cuts within its small and midsize LCD operations. Sony did not say if it would cut these jobs in Japan, abroad, or both."