Japanese Sharp cuts 3,000 more jobs

Sharp Head Office, Osaka

Wikipedia Commons

The Japanese firm Sharp expects to cut three thousand more jobs than initially planned. Early August, Sharp had announced it would cut only 5,000 positions but the company was forced to bring this number up to 8,000. The lay-offs are the result of a drop in the sale of its televisions and liquid crystal displays. 

Sharp, which employs 57,000 and has not had to slash jobs since 1950, has suffered from recent high energy prices, a high yen and global economic instability.

The Japanese multinational was named after its founder's major invention, the Ever-Sharp mechanical pencil.