Sharp planning sale of Malaysia plant

Sharp planning sale of Malaysia plant

Summary: Japanese electronics maker reportedly selling its Malaysia factory, which will bring its total job cuts to 10,000.


Japanese electronics maker Sharp plans to sell its Malaysian factory to Hon Hai Precision Industry, also known as Foxconn, which will bring total job cuts to 10,000.

Citing Kyodo News, a Wall Street Journal report Saturday said Sharp's TV assembly plant in Malaysia has about 2,000 workers. Total job cuts in Sharp could reach 10,000 if the sale goes through.

The company announced in early August that it will be cutting 5,000 jobs as a cost-cutting measure which will save about 100 billion yen (US$1.3 billion).

Last month, Sharp was said to be considering selling off its factories in China and Mexico to its Taiwanese partner Hon Hai which will impact another 3,000 positions.

The report noted that Sharp will be presenting its rehabilitation plan to lenders by the end of this month.

Earlier this month, Sharp had put up its properties in Japan as collateral to secure new bank loans to pay off its short-term debt.

Topics: Tech Industry, Hardware

Liau Yun Qing

About Liau Yun Qing

The only journalist in the team without a Western name, Yun Qing hails from the mountainy Malaysian state, Sabah. She currently covers the hardware and networking beats, as well as everything else that falls into her lap, at ZDNet Asia. Her RSS feed includes tech news sites and most of the Cheezburger network. She is also a cheapskate masquerading as a group-buying addict.

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