Sharp Planning Sale Of Malaysian Plant, Bringing Total Job Cuts To 10,000

Posted on Sep 24 2012 - 7:01am by Editorial Staff

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We earlier heard that Sharp is in talks to sell Japan solar cell plant, but that’s not the only thing that company is cooking. According to a report from Wall Street Journal citing Kyodo News said that company planning to sell its Malaysian factory to Hon Hai Precision Industry (also known as Foxconn). The move means bringing a total job cuts to 10,000 which also includes 2,000 of those who are working at Malaysian assembly.

The company last month only announced its first quarter results, ended June 30, 2012 with an operating loss of ¥ 94.1 billion ($1.20 billion) from a ¥3.5 billion profit a year earlier, blaming TV demand and an overcapacity at its main liquid crystal display plant weighing on earnings.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.