Sony has confirmed that 10,000 jobs will be eliminated as the company embarks on a major restructuring project, one which its new CEO says will help it climb back up to its former number one status.

Cutting six per cent of the company’s global workforce, it’s Kazuo Hirai’s first major move since talking the helm earlier this year.

Hirai is also unveiling strategic plans to raise operating profit margins after a record loss for the past year.

As a result of losing money on TV sales, Sony wants to reduce the number of models and bring in new features, such as digital imaging, and target expansion in emerging markets.

Hirai first made his name at the company heading up the extremely successful PlayStation video game operations. He admits that while the challenges are huge, he’s hoping to see number one once again.