Foxconn founder Terry Gou said there would have to be layoffs at Sharp to turn around the ailing Japanese company, but pledged that wages would rise and profit-sharing would again be the norm.
“Unfortunately, a close review of the company’s operations makes it clear that the level of inefficiency throughout Sharp means that a turnaround … can only take place if there is a reduction in costs, and that comes with a very regrettable need to reduce Sharp’s workforce,” Gou wrote in an open letter, seen by Reuters, to Sharp staff late on Thursday.
Sharp earlier reported its annual losses trebled from a year earlier. read more here