Sharp Japan Expected to Report Loss, May Cut Jobs
Reuters reports that Sharp Corporation of Japan is expected to a report a loss of some $1.28 billion U.S. for its April-June quarter, due to declines in its LCD and solar panel businesses
The Nikkei business daily reports that Sharp may also be considering large job cuts, and may offer several thousand employees around the world early retirement packages. The company may also be considering selling its Tokyo branch and sales office buildings. Sharp will also be taking a charge of about 16 billion yen for a cartel settlement related to LCD panels. Overall, the company has been experiencing losses due to declining TV sales.