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Facing Falling Demand, Sony Lops Off 16,000 Jobs

Dec 9th, 2008 | By Mike Caggeso | Category: Financial News

Surrounded by global recession, Tokyo-based Sony Corp. (ADR: SNE) said it plans to eliminate 16,000 jobs, the biggest of several moves intended to cut more than $1.1 billion (100 billion yen) from its annual expenses by March 31, 2010.

Tags: Credit Crunch, Global Recession, GS, Mike Caggeso, PC, SANYY, SNE, Sony Corp, video game industry, Wii
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