Shares in the struggling firm jumped 2.10 per cent in an initial response to a report in the
The reported move would see the vast company — working to recover from years of huge losses — cut about 300 staff, or 10 per cent of its European workforce, the
Among the changes, the maker of Aquos brand electronics plans to abandon its European television business as it bleeds tens of millions of dollars a year, it added.
Sharp may outsource European TV sales to
Sharp is also in talks with
In a statement Friday, Sharp acknowledged that it is "doing various studies on restructuring operations in
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, the
European revenue accounted for only eight per cent of total sales in the most recent fiscal year, it added.
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