August 02, 2012

Sharp to reduce workforce by 5'000

UPDATED:August 02 2012, 1:18 PM - (With fiscal ficgures) Sharp is to reduce its global workforce by 10%, meaning 5'000 jobs by the end March 2013.

Voluntary as well as mandatory agreements are named as means to achieve the reduction. Furthermore, the ownership of Sakai Display Products Corporation is jointly handled with Hon Hai Group.

Furthermore, Sharp also plans to downscale its Tochigi and Katsuragi production facilities.

Sharp has been in dire straits as of late - with the demand for TVs and the decline within the solar industry. Net sales fell to JPN 458.6 billion, a significant drop of 28.4% compared to the same period last year. Operating loss was JPN 94.1 billion.
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