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New investors call on Sharp to cut deeper


economy

New investors call on Sharp to cut deeper

Sharp cuts at a Japanese household name, the iconic electronics giant slashing 10% of its global workforce. It is also selling its headquarters as part of deal to secure its second major bank-led bailout in three years.

Worth 1.66 billion euros, the new money is debt for equity, but the three new players say the rescue plan has not gone far enough.

Sharp has cutting-edge tech, but some asset managers observe the business model is not profitable. As part of a three-year restructuring plan the company says it may seek a partner for its TV business in North America.

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