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Sharp to cut 5,000 jobs, refocus production in financial recovery move

updated 02:34 pm EDT, Fri May 10, 2013

Three-year plan will halve employee count at head office

Sharp will be drastically cutting its number of employees over the next three years, as part of a plan to financially rectify itself. Out of the 51,000 currently employed by the company worldwide, Sharp will be reportedly cull 5,000 jobs across the board, with its main office in Osaka, Japan losing approximately half of its workforce.

The measures will see the number of directors halved from twelve to six, according to the Asahi Shimbun, along with a cut in the number of previous presidents and vice presidents as paid advisors. It will also work towards updating its regional sales schemes, with a focus on display panels used in smartphones, such as those rumored to be used in the iPhone 5S. It will also be looking at the other end of the screen-size spectrum, with claims that it will conduct research into regional preferences for televisions, and will be increasing production of TV sets measuring in excess of 70 inches, and UHD or 4K displays.

Previous attempts at monetary resuscitation have seen Samsung and Qualcomm making investments in the company, in order to secure supplies of components and to work on IGZO-based displays. Japanese banks are also considering loaning the manufacturer 100 billion yen ($1 billion) as a bailout to help meet an upcoming bond redemption.



By Electronista Staff
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