Sharp Asks Labor Union to OK Continued Pay Cuts

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Tonernews.com, June 6, 2013. USA
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    Sharp Asks Labor Union to OK Continued Pay Cuts

    By Hiroyuki Kachi
    TOKYO–Sharp Corp. said Thursday that it has asked its labor union to accept continued pay cuts for its workers aimed at lowering fixed costs by Y10 billion this fiscal year ending March 2014.

    Among the measures, the struggling Japanese company said it will ask rank-and-file employees for a continuation of pay cuts between October and March next year. But it added that it will narrow the margin of pay cuts to 2% from the current 7% monthly pay reduction in effect for these employees since October last year.

    Sharp has fallen on hard times as it struggles to compete with cheaper overseas rivals.

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    June 6, 2013 at 8:40 AM
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