Japan's Sharp will slash 5,000 jobs by March, reports said Thursday, its first cuts since 1950 as it is hit by a prolonged slump in its key television and liquid crystal display sectors. The firm, which employs 57,000 people globally, has seen operations suffer amid worries over high energy prices, a high yen, slow domestic demand and global economic uncertainty. It had originally considered cutting about 3,000 domestic jobs, but decided to expand the scope to include worldwide operations to accelerate a management restructuring, Kyodo News said. Meanwhile, Sharp executives will take pay cuts of 20-50 percent, compared with originally planned 10-30 percent, Kyodo and broadcaster NHK said. A Sharp spokeswoman declined to comment on the reports, but said president Takashi Okuda will address the media from 0900 GMT in Tokyo, three hours after posting its April-June earnings. Sharp is expected to announce a quarterly net loss around 100 billion yen ($1.27 billion), the Nikkei business daily said last month. The firm expects to end this fiscal year in the red after logging a record $4.7 billion net loss up to March 2012 as global sales of its LCD televisions slumped. However, Sharp has expressed hope that increased efficiency and synergy with new Taiwanese partner Hon Hai Precision should help it return to operating profit of 20 billion yen in the year to March 2013.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:22 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 14:17 2018 Thursday ,25 October
BP eyes entering several new Rosneft projectsGMT 12:08 2018 Saturday ,20 October
OPEC participants performed Vienna Agreement by 111%GMT 16:14 2018 Saturday ,06 October
Saudi Aramco IPO to go ahead by early 2021GMT 19:01 2018 Thursday ,04 October
LEAD S. Korean firms offer aid for quake-hit IndonesiaMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor