Feeds

Sharp chopper falls on early-retire plan as employees flee in droves

We wanted to lose some people, but not that many

Internet Security Threat Report 2014

Ailing Japanese electronics maker Sharp has been forced to suspend its early retirement programme ahead of time due to the large numbers looking to cash in and check out.

The under-fire Osaka-based firm, which predicted losses of ¥250bn (£1.92bn) for the year ending March 2013, has been looking to offload staff in a cost-cutting exercise.

Reports emerged in September that it was set to slash 11,000 jobs worldwide, halve bonuses and sell off some of its factories in a bid to return to profitability.

Some of those will come from a voluntary retirement programme announced back in August, which was set to run from 1 to 14 November. However, the firm has revealed that it was shortened to 9 November “due to oversubscription”.

During the first nine days of the period, 2,960 applicants accepted voluntary retirement, nearly 1,000 more than was originally intended.

Sharp will be forced to record the ¥25.3bn (£19.47m) expense as an “extraordinary loss” for the third quarter of its financial year ending March 2013.

The firm, which is still Japan’s biggest producer of LCD displays, has recently been linked to a possible ¥30bn investment from either or both US chip giants Intel and Qualcomm.

According to the reports, Intel is interested in investing in the once-proud Japanese giant as its low-power display tech could be a good fit for new Ultrabook models. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.