Sharp Cutting Workforce By 5,000

Posted on May 10 2013 - 5:49pm by Editorial Staff

Sharp Corporation

Seems the black clouds are on Sharp as the company reportedly planning to cut 5,000 employees from its workforce of 51,000 worldwide, reported The Asahi Shimbun. The employees who are going to lose their job will be mainly from China and Malaysia while the employees at Sharp’s main office in Osaka will be reduced by 50 percent.

Even further, the company is also reducing its director numbers from current 12 to 6 and the company gearing up to employ “significantly fewer advisers” which once being heading the senior positions in Sharp. The new management plan is expected to be released on May 14 while the company also predicts that annual sales will exceed $30 billion.

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