Sony Pictures eyes $100 million or more in cuts, hires Bain & Co.

November 19, 2013 1:05 AM

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Sony Pictures eyes $100 million or more in cuts, hires Bain & Co.

Sony Pictures Entertainment, under pressure from activist investor Daniel Loeb, is eyeing at least $100 million in budget cuts and has hired consultancy Bain & Co. to examine the studio's expenditures, according to a source with knowledge of the matter.

The cuts are likely to result in layoffs at the studio, which is reeling after several of its high-profile summer releases performed poorly. Sony Pictures, owned by Tokyo-based electronics and media giant Sony Corp., is expected to announce its hiring of Bain & Co. at a Thursday conference for inves...

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