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February 26, 2014 AT 10:07 AM
Sony says it is closing about two-thirds of its U.S. Sony Stores is part of a wide-ranging company restructuring it announced earlier this month. It also said that 1,000 of the previously announced 5,000 job cuts would come from its Sony Electronics unit, mainly in the U.S. and Mexico. The cuts are to take place before March 2015. Sony Electronics President Mike Fasulo said in a statement the moves were "extremely tough" but were necessary to position the company for future growth.