Sharp To Cut Thousands Of Jobs, Faces Huge Net Loss

Posted on Jul 24 2012 - 6:17am by Editorial Staff

Nikkei reporting that Sharp faces a net loss of 100 billion yen (about $1.28 billion) for the April-June quarter, and more over on this the company even planning to lay off several thousand of its workers and sell office buildings in Tokyo. “We are considering various measures to tackle the difficult situation, and will disclose the details when it is finalized,” Sharp said in a statement. Its shares fell as much as 5.4 percent in early trading in Tokyo. The company expecting drop down of 19 percent in its TV sales this business year to 10 million with LCD panels’ sales predicted to jump 29 percent. After all, its kind of time we have entered in shaking economy, not in one but in almost every other major brand the same restricting efforts going on.

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