Sharp OZ, Staff Queue Up Take Redundancies
Several senior staff at Sharp Australia, have moved to take redundancy payments after the Company chose to move from Huntingdale to North Ryde.
According, to sources the staff are using a clause in their contracts to obtain redundancy payments. The clause said that they would be employed at Huntingdale and not Ryde.
The struggling appliance Company who were forced to exit the Australian TV market because of poor marketing and falling sales, has been forced to reverse a decision to regarding the management of retailers.
Late last year the Company dumped contracted merchandisers in favour of staff appointed people. This did not last long with recently appointed employees quitting the Company within a few months of being appointed.
According, to sources head office staff who face an hour and a half drive to work from the current offices in Huntingdale, are using a clause in their contracts to obtain redundancy payments. The clause said that they would be employed at Huntingdale and not Ryde.
Among those who are tipped to exit the Company in January are Deputy Managing Director Joe Constantino and Human Resources Manager Sandra Wood.
ChannelNews understands that Foxconn Technology Group, the Taiwanese Company who recently aquired the Sharp Corporation after years of losses has not made a decision about the future of Sharp Australia.
Foxconn the main manufacturer of Apple devices, recently posted an 8.7% decline in third-quarter profit, weighed down by recently acquired Japanese electronics maker Sharp Corp.
Losses at Sharp were a drag on what was otherwise a quarter of brisk sales because of production of the iPhone 7 for Apple, Foxconn’s largest customer.
Foxconn completed its $3.8 billion acquisition of Sharp in August after years of tumultuous negotiations and last- minute hitches that almost derailed the deal. Sharp’s advanced flat-screen panel business fits into Foxconn’s strategy to expand into high-end components — a more lucrative business than electronics assembly.
Foxconn, the world’s biggest electronics assembler, has said it would help Sharp speed its efforts to mass-produce organic light-emitting diode, or OLED, displays, a technology that holds promise for next-generation gadgets with flexible screens. Apple is considering adopting this technology for iPhones as early as next year, The Wall Street Journal has reported.
But Sharp’s new chief executive, Tai Jeng-wu, said recently that he hasn’t yet decided if his company will commit fully to OLED or stick with more widely used liquid-crystal displays.
While manufacturing devices for Apple is still Foxconn’s largest source of revenue, the Taipei-based company increasingly has diversified into other high-tech fields ranging from telecommunications infrastructure to robotics and e-commerce.
None of this is a fit for Sharp Australia’s operation in particular their appliance business which is struggling to grow under the management of Joe Constantino.