More interesting news on Sharp. I’m no financial analyst by any stretch, I’m just trying to make sense out of what it means to my world of imaging.
According to the following article, Sharp is looking to cut 5k jobs. However, it should be noted that the imaging group, one of the most profitable groups within Sharp is expanding. A quick look at their website currently shows no less than 20 job openings when you search the word “print.”
Am I wrong or do companies in dire straights tend to have hiring freezes across the board when they’re in survival mode? And maybe Sharp is, but it seems that most of the missed projections have to do with them exiting several unprofitable TV markets (not the US). Yes, leaving these markets (Europe, Canada and Mexico if I’m correct) hurt their TV numbers, which is a big part of the company. They will need to figure things out and it sounds like they’ve made some tough choices and for that, they may end up being much healthier.
While leaving a key market is not a good sign, quite often the end result is a company more focused on profitable areas. Do you want to be a Kodak and ride it into the ground or a Konica Minolta where you rebuild yourself into a top tier company in the markets in which you compete?
Sharp is is clearly in another painful and press-worthy situation and you’re seeing a lot of negative press about them at the moment. They missed a big mark because of a change in direction. It happens. However, let’s not lose sight on what’s going on with the print and digital signage groups. Are they going away? I don’t think that’s happening anytime soon.
The following appears on japantimes.co.jp
OSAKA – Struggling electronics maker Sharp Corp. is considering shedding 5,000 jobs, or about 10 percent of its global workforce, informed sources said Thursday.
To slash fixed costs, Sharp will also look at reducing salaries in Japan, the sources said.
The fresh downsizing plan will likely subject Sharp’s management to criticism for failing to meet its earlier goal in 2012 of cutting more than 10,000 jobs domestically and overseas. The company cited delays in divesting overseas operations as the reason for missing the goal.
Click here to read the rest of the article on japantimes.co.jp