Wobbling its way through the recession-hit economy is yet another big name - Sony Corp! According to reports by Nikkei business daily, as per Sony's restructuring plan announced in December, the company will induce more job-cuts and close one of its two TV plants in Japan.

In addition, Nikkei reported that Sony even plans to slice managerial and executive-level bonuses to reduce its costs.

The Thursday reports said that Sony is considering a close down in production at one Japanese plant, forecasting the projection of its first annual operating loss in 14 years, thanks to the declining demand at the stronger yen! The loss is expected to be in excess of 100 billion yen - $1.2 billion - which would be a striking contrast to its revised operating profit of 475.2 billion yen the previous year.

To revive its electronics business, the company intends laying-off more than 2,000 domestic full-time employees.

Sony spokeswoman, Mami Imada, said that Sony - the maker of Bravia LCD TVs and PlayStation game consoles - is working towards "consolidating TV assembly and parts production into one of its two TV factories in Japan, and using the other for distribution and other purposes." As a result of the move, Imada said the company will cut down 3 percent of its domestic workforce.

Imada, however, declined to comment on any other details of the restructuring plan of the electronics icon, including the possibility of cutting the earnings outlook of the company for the current business year to March. (Rupinder Kaur contributed to this report.)