As reported on Engadget.
By Sean Buckley
Despite losing a little less each quarter since Kazuo Hirai took over as CEO, Sony still appears to be looking for ways to cut the fat. Its latest move? Sell the house. Taking a page from Nokia’s book, Sony has announced that it has agreed to sell its New York headquarters building to a consortium led by The Chetrit Group. After settling its debts on the building, the $1.1 billion sale will net Sony about $685 million in operating income, potentially giving it the extra cashflow it needs to avoid a negative Q3 earnings report. According to Reuters, the firm may be planning a similar move in Tokyo, which could score Sony another $1.14 billion to balance its budget. Check out the company’s official announcement after the break.