CNet reports that Sony is laying off 10,000 workers - notice where they say they are focusing:

The world's second- largest consumer electronics maker said it expects to save $1.8 billion in the process as it refocuses on its refocuses its efforts on electronics, televisions, digital imaging, DVD recorders and portable audio. Of the 10,000 in job cuts, the company said it will slash 4,000 jobs in Japan and 6,000 jobs elsewhere.

That focus looks to be squarely on the non-content side of the business - it looks to me like the changes afoot in the music business (iPod, etc) and the downturn in the movie business are having an impact.