Sharp Layoffs Job Cut: fires 1500 contract employees

Seems like the doomsday has arrived for the Japanese electronics company Sharp. The news is not good for the employees of Sharp, the world’s leading electronics manufacturing company. Another news of layoffs, another company joining the group of companies to go for layoffs. The firm Sharp, has decided to go for Sharp Lay offs or Sharp Job Cuts.

How many employees may be fired by Sharp layoffs?
The news is that around 1500 employees will be made jobless at Sharp.

How many employees does Sharp have?
The total no. of employees at Sharp is around 56,000 full time total work force globally.

Any news of previous layoffs by the company
No. There is no news about any previous layoffs by Sharp.

Any plants or locations being closed by Sharp?
No such news as of now.

Which locations will be affected by the Sharp Layoffs?
No details are available about the specific locations with respect to the job cuts.

Which segment of employees will be affected by the Sharp layoffs
The company has mentioned that only the temporary contract workers will be affected, as their contracts will not be renewed by the company.

How much savings can be made by Sharp Layoffs?
No information about that.

When will the Sharp layoffs happen
No news about that, except that the contracts will not be renewed, as and when they end.

Any severance package for the affected employees?
No info available, but since the layoffs is for contract workers, it is understood that no severance package will be applicable.

What are the primary reasons of Sharp Layoffs
The company has incurred losses for the first time in nearly 60 years of history. The costs to restructure its flat-panel display business, together with losses in its stock holdings and regulatory fines would lead to a net loss of 100 billion yen. Hence, the temporary contract workers will be loosing their jobs.

Any other news about Sharp?
As per SeattleTimes News,Sharp, Japan's largest maker of mobile phones, said phone sales have fallen due to the slumping domestic market. Foreign exchange also hurt the company during the quarter, as the strong yen cut profits on products sold abroad.
It plans to slash expenses by 200 billion yen over the next two years, including cutting the salaries of executives and managers. The company will also reorganize its LCD factories and reassign some workers
Let's hope that alternative jobs are available to the affected employees of Sharp Layoffs Job Cut