Feeds

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

We wanted to lose some people, but not that many

Build a business case: developing custom apps

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. ®

Boost IT visibility and business value

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.