Sony has hired global management consulting firm Bain & Company to identify where can cut costs in its entertainment division in order to return it to profitability, reports Bloomberg.

The report states that the cost cutting measures will result in job loses across the division, which includes its film and its games businesses.

Several prominent investors have this year called for Sony CEO Kazuo Hirai to carve up the entertainment division and focus on maximising profits in the electronics division.

Hirai will host a conference on the future of Sony’s entertainment division on November 21. To date, Hirai has expressed an interest in unifying the electronics and entertainment divisions.

Sony posted a net profit in the 2013 financial year after five consecutive years of losses, although its games division was barely a factor in that performance.

The company exceeded expectations on its way to a net profit of ¥43 billion (NZ$512 million).

A dramatically weakened yen aided Sony’s foreign sales deals, and the company raised billions from the sales of its New York City headquarters and a major Tokyo office building.

Sony is predicting a ¥50 billion (NZ$556 million) net profit for the current fiscal year, with increased demand for its smartphones expected to be a big contributor.

The launch of the PlayStation 4 is also expected to bring in revenue, despite its research and development costs.

Sony said these costs would be offset by increased sales, resulting in a flat operating performance.