The cuts follow an announcement that the electronics maker is headed for $1billion annual loss. This is the first annual loss since 1950 and is blamed on falling demand for flat panel tvs. Sharp said the cuts will not affect the company’s full time global workforce.
A restructure plan is to be implemented intended to save costs of $2.2bn. This will involve ending contracts for temporary workers, cutting the salaries of executives and managers and the reorganisation of its lcd factories.
