Sharp plans to lay off 11,000 people and raise assets through sale

On September 25, the Kyodo News Agency learned that Sharp's restructuring plan showed that Sharp plans to lay off 10,966 people in Japan and overseas, and raised 213.1 billion yen by selling assets by the end of March next year.

Sharp’s restructuring plan submitted to financial institutions on the 24th shows that the company will lower its salary, sell shares of overseas factories, a subsidiary and Toshiba, and merge four domestic sales companies around April next year.

In order to implement the above plan, Sharp will set up an emergency management committee led by President Takashi Okuda on October 1. The company intends to turn a profit in the new fiscal year beginning in April next year, and strive to achieve a net profit of 14.6 billion yen.

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