Sony

Jobs Cut: 16,000

Consumer electronics pioneer Sony (SNE) is slashing 4% of its global workforce, or about 8,000 full-time employees. The company said on Dec. 9 it will eliminate another 8,000 temporary and seasonal staff as part of an effort to save $1.1 billion. The strength of the yen in 2008 has deeply cut into profits—and 80% of Sony's sales originate abroad—just as the recession has diminished consumers' appetites for electronic gadgets.