Sharp to cut 5,000 jobs as quarterly loss worsens

Aug 02, 2012

(AP) — Japanese electronics maker Sharp Corp. is slashing 5,000 jobs over the next year, or nearly 9 percent of its global workforce, after its quarterly loss ballooned from a year earlier.

Osaka-based Sharp reported Thursday that its April-June swelled to 138.4 ($1.8 billion) from 49 billion yen of red ink a year earlier.

Quarterly sales plunged 28 percent to 458.6 billion yen ($5.9 billion) as sales crashed in liquid crystal displays, flat-panel TVs and mobile phones.

Sharp forecast a bigger loss for the business year through March 2013. It now expects a 250 billion yen ($3.2 billion) loss compared with the 30 billion yen ($385 million) loss it projected earlier.

Sharp said the cuts will come through voluntary and mandatory retirement and other arrangements.

Explore further: Alibaba's plan: Today, China. Tomorrow, the world.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Japan's Fujitsu hit by third-quarter loss

Jan 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

Panasonic returns to profit in 1Q on cost cutting

Jul 31, 2012

(AP) — Panasonic Corp. said Tuesday it returned to the black in the April-June quarter, logging a net profit of 12.8 billion ($163 million) mainly on lower costs after cutting more than 38,000 jobs over ...

Sharp annual profit more than quadruples

Apr 27, 2011

(AP) -- Sharp said its annual profit more than quadrupled due to brisk demand for liquid crystal display screens but warned the earthquake and tsunami that hit Japan last month will have a "broad" impact on its business.

Panasonic announces Q1 net loss of 560 mln dlrs

Aug 03, 2009

Japanese high-tech giant Panasonic Corp. announced Monday a big first-quarter loss, blaming weak sales of televisions, digital cameras and other electronic goods during the recession.

Japan's Sharp sees deeper net loss

Apr 08, 2009

Japanese electronics giant Sharp Corp. said that it had fallen deeper in the red than expected in the past year, suffering its first-ever loss due to the economic downturn.

Recommended for you

Alibaba IPO to boost employee fortunes to $8 bn

2 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

5 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

Alibaba poised to surge on the NYSE

15 hours ago

Chinese e-commerce powerhouse Alibaba will say "open sesame" to the New York Stock Exchange on Friday, as its shares begin trading in a highly anticipated debut that could raise up to $25 billion.

User comments : 0