01 August 2012, Sharp announced that it will layoff 5,000 employees between now and March 2013, then, on 02 August reported a record loss of $1.6 billion USD for the quarter April-June! That’s three times its loss from the same quarter last year!
The layoffs will affect workers in Japan, and in other countries. Sharp hopes most of the layoffs will come from convincing older workers to retire early.
Sharp now expects to lose $3.2 billion for the year 2012!
Sharp has reported record losses, but, Panasonic recently reported profits and still plans to layoff 7,000 employees!
On 30 July 2012, Panasonic revealed that it plans to reduce its headquarter staffing by 7,000, leaving only 150 HQ staff employed!
Panasonic reported profits for the past quarter, but they (just like Sharp) suffered huge losses in 2011, and they expect sales to drop for the rest of 2012.
Panasonic executives say they hope to find other jobs for the 7,000 HQ staffers in Japan.
Back in April 2012, Sony revealed they will layoff 10,000 employees, both in Japan and in other countries. On 02 August 2012, Sony reported a loss of $315 million for the quarter Arpil-June.
Sony officials revised their expected losses for this year, almost doubling it!
All three of these companies are losing big money in one sector of their industry: Televisions with LCD screens! They say people around the world just aren’t buying enough LCD TVs.
Or is it that company execs messed up and ordered the production of way too many TVs with liquid crystal displays?