Tokyo, April 28 (CNA) Sharp Corp. is planning to lay off about 1,000 employees as part of its efforts to strengthen its financial structure after the loss-incurring Japanese firm inked an agreement to sell a majority stake to Taiwan's Hon Hai Precision Industry Co. (鴻海) earlier this month, according to a news report.
The Nihon Keizai Shimbun (Nikkei) said that although Hon Hai had said it would retain as many of Sharp's employees as possible after the acquisition deal, as the Japanese firm's financial condition is worse than expected, the Taiwanese shareholder will be forced to cut Sharp's workforce. read more here
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