Sharp To Axe 11,000 Workers, Sell Off Assets In Desperate Bid To Return To Profitability

view story

http://techcrunch.com – Sharp is in a bit of trouble and is looking to trim its businesses as a result. The company plans to slash its worldwide workforce by 11,000 souls. The company also plans to generate $2.74 billion by selling off various assets and offloading its subsidiary and shares in Toshiba Corp. These moves, submitted to financial institutions yesterday and obtained by Kyodo News, aims to return Sharp to profitability by next April. If successful, the plan should result in a net profit of $187M. Kyodo News does not detail when the layoffs will commence. However, Sharp’s previous layoff plan, which t (IT news)