Tokyo ? Sony Corp. said Thursday it will cut 10,000 jobs globally, slash the number of factories and cut costs by $1.8 billion in an ambitious restructuring bid to revive its stumbling electronics business.

The Japanese company – under new management since March – said it expected a group net loss of $90 million in the current fiscal year. Plunging prices of consumer electronics and missteps with its portable music players and televisions have taken a hefty toll on earnings.

The changes, to be put in place by the end of fiscal 2007, would result in a 6 percent reduction of its global work force – 4,000 workers in Japan and 6,000 elsewhere, while the number of factories would be cut from 65 to 54, officials said. The company did not say where it would cut jobs outside of Japan.

The turnaround plan comes under the fresh leadership of Howard Stringer, a British-American dual citizen who was named chief executive of the electronics and entertainment company in March – the first foreigner to head Sony.

“We have made promises before but we failed to execute them,” Stringer said at a news conference in Tokyo. “We must fight like the Sony warriors that we are.”