PARIS – Japan's Sharp Corp. reported a significantly wider fiscal first quarter loss and unveiled its intention to cut 5,000 jobs by the end of March 2013. This will be the company's first personal downsizing since 1950.
For the quarter ended June 30, Sharp posted a 138.40 billion yen net loss, up from 49.28 billion yen a year ago. The operating loss amounts to 94.13 billion yen, compared with a profit of 3.53 billion yen a year earlier. Revenue declined to 458.60 billion yen, compared with 640.35 billion yen.
Source: Sharp