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Sharp cutting back staff

by on13 May 2013 1126 times
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Sharp will start layoffs within their ranks as part of a restructuring plan according to sources close to the company. Over a period of three years, the number of employees should be reduced by 5,000. The company currently has 51,000 employees.

The restructuring measures also apply to the administration - the number of directors will be halved to six people, and number of vice-presidents and company-paid consultants will be reduced as well. These layoffs affect everyone except Japan, layoffs are expected in China, and Malaysia. The focus of production will be transferred to screens for use in mobile devices and they also announced new investment in the development and production of screens with a UHD resolution and diagonals larger than 70 inches.

It is expected that Sharp will publish their three-year restructuring plan next week.

[Ed – this is interesting coming from Sharp as Foxconn just invested money in them in hopes that they would supply screens for a new line of TVs. Now with Sharp cutting back and reorganizing their production to only mobile displays this is sure to hit Foxconn’s plans hard. Of course this all could be to court more business with Apple again, but we doubt that is going to fly as sharp is not stable enough for Apple.]

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Last modified on 13 May 2013
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