Sharp to axe more than 10 pct of Japanese workforce – Nikkei

March 18 (Reuters) – Sharp Corp is cutting more than 10 percent of its Japanese workforce starting in April, according to a Nikkei report.

The embattled electronics manufacturer will slash about 3,000 jobs through voluntary retirements and expects to book about 30 billion yen ($ 250.00 million) in retirement-related expenses for 2015, the business daily said.

Sharp’s could also shed its North American television business as part of its plans to restructure operations in unprofitable businesses, the Nikkei said. (http://s.nikkei.com/1FBRPPX)

The company could also cut more than 2,000 jobs mostly in the Americas, representing about 10 percent of its workforce outside Japan, the Nikkei reported.

Sharp is also expected to lower the pay scale for its domestic workers in 2015, to curb personnel costs. The company plans to cut fixed costs by 50 billion yen ($ 416.67 million), the newspaper said.

($ 1 = 120.0000 yen) (Reporting by Anya George Tharakan in Bengaluru; Editing by Simon Jennings)

Nikkei Futures

nikkeifutures.org@imediaone.com

You may also like...

Rules of Discussion on Sharp to axe more than 10 pct of Japanese workforce – Nikkei

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Memebrs are requeuested to flag any violations to keep Forum Clean