Future For Sharp OZ Looks Grim Big Staff Cuts Coming Claims CEO
The future for Sharp Australia’s consumer electronics and appliance division is looking grim after the CEO of the Sharp Corporation said last night, that thousands of Sharp staff are set to be laid off and that includes at “overseas subsidiaries”.
ChannelNews has been told that senior executives of the local Sharp subsidiary, have already approached employment agencies looking for new jobs.
Speaking in Tokyo last night Tai Jeng-wu, who became CEO as part of the takeover by Taiwan’s Foxconn Technology Group said “My mission as the leader of Sharp is to turn around this company without any further delay,” said
Mr. Tai also said a restructuring is necessary and would include cutting Sharp’s workforce
in the thousands and mainly be at overseas locations.
In Australia and under the management of director Joe Constantino, Sharp has seen their revenues fall during the past five years from $100 million to less than $25 million. A restructuring of the sales merchandising and marketing operations last year seems to have failed with several new staff who were appointed to handle state merchandising operations having already quit claiming that the job was not what they expected.
Sharp Corporation is set to implement a large-scale corporate restructuring to achieve profitability, with the hope of restoring the brand’s image as a global provider of innovative consumer electronics, the company’s new chief executive said.
Mr. Tai, Foxconn Chairman Terry Gou’s right-hand man, took over from Kozo Takahashi when the ¥388.8 billion ($3.9 billion) deal to take more than a 60% stake in Sharp closed this month.
Mr. Gou said in April that he had pursued ownership of Sharp because of the Osaka-based company’s record of innovative products, such as microwaves and air-purifiers, in addition to the fact that Sharp is a major display-panel provider for Apple’s iPhone and iPad.
Mr. Tai said the company would invest aggressively in research and development and that Foxconn would provide support for component-procurement and manufacturing.
Mr. Tai said he hopes to cancel such licensing deals to prop up the value of Sharp’s brand.
“We want to polish Sharp’s brand value by ourselves and make it shine globally,” he said.