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Update: Sharp to cut 6,000 jobs, spend 700b yen to restructure: source

Thursday, March 19, 2015 - 10:57

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Japanese electronics maker Sharp Corp plans to cut around 6,000 jobs in a global restructuring that will cost over 200 billion yen (S$8.03 billion), a source said on Thursday.

[TOKYO] Japanese electronics maker Sharp Corp plans to cut around 6,000 jobs in a global restructuring that will cost over 200 billion yen (S$8.03 billion), a source said on Thursday.

The job cuts will include around 3,000 in Japan through early retirement and 3,000 overseas, according to the source who was briefed on the matter but asked not to be named because the move was not yet official.

Sharp is due to post its third annual net loss in four years, hurt by aggressive competition from its rivals and weaker-than-expected smartphone demand in China.

The Nikkei earlier reported that Sharp could also shed its North American television business. The company said it was considering various options to restructure its business but no decisions had been made.

REUTERS

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