Sharp to reduce its Japanese workforce by 10 percent

The company will cut some 3'000 positions though voluntary retirements and expects retirement-related expenses to amount to roughly USD 250 million in 2015, according to a report in Reuters citing Nikkei. Sharp could also cut its North American TV business as a measure in its plans to restructure operations in unprofitable units. The Japanese company could slash 2'000 position in the Americas, which would be roughly 10 percent of its workforce outside of Japan, the report continues. That's not all, the company is also expected to lower wages for its domestic workers in 2015 in order to reduce costs, the report concludes.