Electronics firm Sharp will be cutting 5,000 jobs as part of its three-year restructuring plan in efforts to survive.
As reported by The Asahi Shimbun, axed employees will mainly come from China and Malaysia. The number of employees at Sharp's main office in Osaka will be reduced by 50 percent. Sharp's director numbers will also be cut from 12 to six, and the firm will employ "significantly fewer advisers" who were once presidents or vice presidents of the electronics firm.
Sharp currently employs 51,000 people worldwide.