Naofumi Hara

Some of the biggest names in consumer electronics and technology -- Sony, Toshiba, Nintendo and NEC Electronics -- reported miserable earnings and intensely gloomy outlooks Thursday, further proof that the economic slowdown had expanded well beyond big-ticket items like cars and houses, and revealing the extent of consumer pessimism around the globe.

Toshiba and NEC both joined the lengthening list of companies to warn of a full-year loss -- Sony had already done so last week -- and announced job cuts and other efforts to reduce costs.

While the nation's top three automobile giants are trying to convince the government that they need a bailout, other businesses are doing what they can to stay afloat even if it means slashing thousands of positions.

Today, Sony joined the growing list of companies who have had to cut a percentage of their workforce to stay competitive. Sony announced Tuesday that it will slash 8,000 positions between now and March 2010 in its electronics business, cut operation costs, and cut inventory.