After posting a disappointing quarter for the period ended June 30, Sharp has announced plans to reduce its workforce.
The company today said that it plans to cut 5,000 jobs by the end of March (PDF), reducing its global workforce by 8.8 percent to land at 51,700 employees. The cuts will come via voluntary and mandatory retirement. Sharp also plans to make "off-balance-sheet arrangements."
Sharp's workforce reductions comes amid troubling times for the company. Earlier today, Sharp announced that its revenue was down 28.4 percent year-over-year to land at 458.6 billion yen ($… Read more