Electronics giant Sony claims that it has no plans to announce any new restructuring plans that would see the closure of any of its divisions. This comes in response to a recent report by The Times Online, which said Sony was “on [the] brink of upheaval” and that its employees were preparing for a “series of ‘sacred cow-slaying’ measures” that would see major divisions and factories closed.

“We do not plan to announce additional restructuring measures at this time,” said Sony spokesman Atsuo Omagari. “We don’t have any such plan.”

The company announced back in December that it would cut 16,000 jobs and would reduce focus on “unprofitable or non-core businesses”.