Electronics giant Sony has found itself rather cut down to size in recent years.

The Japanese powerhouse has seen its losses balloon since the turn of the decade. In the October-December quarter, the company posted a whopping $2.1bn loss. Having already shed CEO Howard Stringer back in February, the company is now set to jettison 6% of its global workforce.

As Billboard report, new CEO Kazuo Hirai has resolved to cut approximately 10,000 positions within the company. Although the reports have yet to be officially confirmed by Sony, Japanese paper The Nikkei claims that the news will be announced on Thursday.

Sony is set to merge its LCD panel operations with Toshiba and Hitachi, and will also flog off its chemical unit. Sony have pointed towards a drop in demand, an unusually high yen and recent flooding in Thailand as reasons for the decline. Sony Music’s phalanx of labels includes Columbia, Epic, RCA, and Syco.