Struggling Sharp Corp. plans to slash a total of 10,966 employees in Japan and overseas while selling off assets to generate ¥213.1 billion by the end of next March, according to the company's restructuring plan obtained Tuesday.
The plan, submitted Monday to financial institutions by the Osaka-based consumer electronics maker, shows it will cut wages and unload its overseas plants, a subsidiary and shareholdings in Toshiba Corp., while integrating four domestic sales companies around next April.
To implement the plan, Sharp will set up an emergency management committee Oct. 1 headed by President Takashi Okuda. The company aims to return to profitability in the business year starting next April with a group net profit of ¥14.6 billion, according to the plan.