Sharp considering cutting 5,000 jobs worldwide: source
TOKYO (Reuters) - Japan's Sharp Corp is considering cutting 5,000 jobs globally, or just under 10 percent of its consolidated workforce, a source close to the matter said on Thursday.
The job cuts will be sought through early retirement and will also include reductions resulting from a plan to hive off ownership of its underused Sakai LCD factory in western Japan to Taiwan's Hon Hai Precision Industry, the source said.
The maker of Aquos TVs posted a record net loss in the year ended March 31 on a plunge in demand for its TVs that left it saddled with a glut of LCD panels.
Demand for its TVs and solar panels remains weak, and a $198 million settlement in a U.S. LCD cartel case will further weigh on its April-June earnings results due at 3 p.m. (0600 GMT).
(Reporting by Reiji Murai, Writing by Mayumi Negishi; Editing by Chang-Ran Kim)
- Islamic State issues video of beheading of U.S. hostage |
- U.S. strikes Somali militant camp in bid to kill al Shabaab leader
- Marilyn Monroe sex film to be kept private |
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- Ukraine accuses Russia of 'undisguised aggression' as rebels advance |