The linked New York Times article discusses Sony's job cuts and other attempts to reduce costs. From a corporate governance perspective, one of the interesting things about Sony is that it was one of the first Japanese companies to opt into a U.S.-style system of board-level committees when Japanese law was changed to allow the approach 3 years ago.
http://www.nytimes.com/2005/09/23/business/23sony.html?th&emc=th
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