Struggling Japanese electronics maker Sharp is seeking to shed 500 jobs through an early voluntary retirement program at its Sakai plant in Osaka Prefecture, sources have said.
The plant, run by wholly owned subsidiary Sakai Display Products, is set to discontinue production of large liquid crystal panels for television sets.
Sharp is soliciting applicants for the retirement program at Sakai Display Products. The 500 jobs account for over the half of the subsidiary’s total workforce. The remaining personnel are expected to be reassigned.
Sharp, which incurred a huge net loss for the second consecutive year in fiscal 2023, has decided to scale down its flagging LCD business.
The Sakai plant is set to halt its operations by the end of September.