Feeds

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

We wanted to lose some people, but not that many

Remote control for virtualized desktops

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. ®

Security for virtualized datacentres

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
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.