Sharp Plans to Cut 5,000 Jobs

Sharp Corp. is planning to shrink by shedding 5,000 jobs, or approximately 10% of its workforce worldwide, and reducing salaries in Japan, reported Japan Times.

In Japan, it is expected to cut 3,000 of its 24,000 employees under a voluntary early retirement program. The remaining 2,000 layoffs will be disposed chiefly through restructuring, like closing its television plant in Mexico.

The cuts shall cost Sharp about ¥30 billion (US$250.74 million) in additional restructuring charges. The size of the layoffs matches the one made in Sharp’s early retirement program in 2012, when more than 2,900 employees were dismissed with about ¥25 billion (US$208.95 million) in retirement related expenses.

The plan comes as the result of Sharp’s goal to post a group net loss of around ¥200 billion (US$167.16 million) for the business year ending March 31.

You’re Welcome to Contact Us！
You can provide opinions and comments on this story!
Or you can send us your own story!
Please contact Doris Huang, Head of News & Editorial, via Doris.Huang@iRecyclingTimes.com