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Sharp eyes overhaul of its European business
(MENAFN) Sharp said it was eyeing an overhaul of its slow European business after it would pull the plug on its home appliance unit on the continent, Arab New reported
The titanic company, working to recover from years of huge losses, cut about 300 staff, or 10 percent of its European workforce, a report in the Nikkei business daily showed
In a statement, the Japanese electronics giant acknowledged that it is "doing various studies on restructuring operations in Europe, but nothing has been decided at the moment"
Sharp is a major exporter that generates about 60 percent of its sales abroad, but the firm shifting its focus to richer Asian and North American markets, as European revenue accounted for only 8 percent of total sales
The titanic company, working to recover from years of huge losses, cut about 300 staff, or 10 percent of its European workforce, a report in the Nikkei business daily showed
In a statement, the Japanese electronics giant acknowledged that it is "doing various studies on restructuring operations in Europe, but nothing has been decided at the moment"
Sharp is a major exporter that generates about 60 percent of its sales abroad, but the firm shifting its focus to richer Asian and North American markets, as European revenue accounted for only 8 percent of total sales
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