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Winnipeg Free Press - PRINT EDITION
Sharp to cut 5,000 jobs amid big quarterly loss
TOKYO -- Japanese electronics maker Sharp Corp. is slashing 5,000 jobs over the next year, or nearly nine per cent of its global workforce, after its quarterly loss ballooned from a year earlier.
Osaka-based Sharp reported Thursday its April-June loss swelled to US$1.8 billion from $629 million in red ink a year earlier.
Quarterly sales plunged 28 per cent to $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 $3.2-billion loss compared with the $385-million loss it projected earlier.
Sharp said the job cuts will come through voluntary and mandatory retirement and other arrangements.
-- The Associated Press
Republished from the Winnipeg Free Press print edition August 3, 2012 B11
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