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Management Pay Slashed At Sharp

Management Pay Slashed At Sharp

Sharp has about 4000 managers across its domestic group companies, leading some of the more cynical watchers to suggest it might be easier and better to cut the number of managers.
The Nikkei news service reported that the company may cut pay by five percent for managerial staff and by about two percent for others.

Sharp still expects to post a net loss of well over 100 billion yen (A$1.07 billion) for its financial year ending March 2015 and is set to axe 12 percent of its workforce in a global restructuring expected to cost more than A$2.1 billion. It’s not clear how many managers will go.