Sony Pictures to cut 300 jobs

Sony Pictures Entertainment is expecting to cut about 300 jobs -- or about four percent of its employees -- as early as next week, according to the Los Angeles Times. That number would be reached by a mix of layoffs and eliminating open positions. The studio's revenue dropped eight percent in the most recent quarter, to $1.9 billion, which was attributed to declining DVD and television program sales. Sony declined to comment on the job cuts.