How bad are things at consumer electronics giant Sony? Pretty bad. The company has revealed that it will lose 520bn Yen (around $6.4bn) for its latest financial year, more than double its previous forecast just two months ago. This is less about slumping sales of products, and more about a new 300bn Yen tax charge related to the company’s assets in the US, reports AFP. However, it comes the same week as reports that Sony is about to make 10,000 people redundant around the world as part of a raft of changes from new CEO Kazuo Hirai, who is reorganising the company.

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