Arab Today, arab today japan\s sharp to cut 11000 jobs
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Japan\'s Sharp to cut 11000 jobs

Arab Today, arab today

Arab Today, arab today Japan\'s Sharp to cut 11000 jobs

Tokyo - AFP

Troubled Japanese consumer electronics giant Sharp is to cut 11,000 jobs worldwide and sell $2.7 billion worth of assets and factories in a bid to turn its finances around, a report said Tuesday. The company, best known for home appliances, including LCD televisions, will also cut wages, Kyodo News said, citing a company plan presented to creditor banks on Monday. Once the new plan is finalised, the banks are expected to offer fresh loans totalling 360 billion yen ($4.6 billion) to the cash-strapped firm, which faces a huge bill for the redemption of commercial paper this year and bonds the next. Under the new plan, Sharp will shed 19 percent of its 57,170-strong global workforce, by the end of March 2014, Kyodo said. The company will also cut wages and bonuses to save almost 50 billion yen in personnel costs in the year to March 2013, Kyodo said. Sharp announced in early August that it was slashing 5,000 jobs worldwide and the new reported figure appeared to include that original round of lay-offs. The report comes amid growing speculation that the company may receive a cash injection of more than $380 million from US chip giant Intel, and as its ties with Taiwanese partner Hon Hai begin to sour. Sharp, which expects a huge 250 billion yen ($3.2 billion) loss in the year to March 2013, sought help from Hon Hai, which promised in March to take a stake of around 10 percent in the Japanese firm. However, Sharp shares plunged shortly after the deal was signed, pushing Hon Hai, best known for its Foxconn brand producing Apple gadgets, to demand Sharp reduce the investment price. As Sharp's relations with Hon Hai cooled, Intel has emerged in the media as a possible tie-up partner to help the 100-year-old Japanese company. Sharp, which has seen its mainstay television, liquid crystal display and solar panel products struggle, has promised to return to the black in the next fiscal year starting in April.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan\s sharp to cut 11000 jobs Arab Today, arab today japan\s sharp to cut 11000 jobs

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan\s sharp to cut 11000 jobs Arab Today, arab today japan\s sharp to cut 11000 jobs

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday