Layoffs Hitting Sony Pictures Entertainment LA Times

Sony Pictures Entertainment will lay off 450 people beginning in March, some in the TV division, the Los Angeles Times reports.

The number represents about 6.5 percent of the company’s employees worldwide. The move was blamed on lower DVD sales and an increase in piracy.

Most of the layoffs are expected to take place in the home entertainment and information technology divisions, but all other areas of the company will be affected.

--Elizabeth Jensen