On Monday, word emerged that Sony had hired consultancy B...

Shares of Sony were up 10 cents to $18.63 on Thursday.

Sony Entertainment Chief Executive Michael Lynton, also chairman and chief executive of Sony Pictures, addressed cost-cutting at the Thursday meeting, saying the company had identified $250 million in "overheard and procurement savings" that are now being implemented.

Sony Pictures is enduring a particularly challenging year. It had several box-office disappointments including "After Earth" and "White House Down." On Oct. 31, the studio posted an operating loss of $181 million for the fiscal second quarter.

Several executives from Sony Corp.-owned Sony Entertainment Inc., which includes the film and television studio, Sony/ATV Music Publishing and Sony Music Entertainment, spoke at the event at Sony Pictures' Culver City lot.

Shares of Sony were up 10 cents to $18.63 on Thursday.