Monday, February 9, 2009

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Sharp to cut 1,500 jobs

Japanese electronics maker Sharp Corp. said that it will cut 1,500 contract workers in Japan by the end of March, and is headed for a billion dollar annual loss, its first in nearly 60 years.

Sharp said costs to restructure its flat-panel display business, together with losses in its stock holdings and regulatory fines would lead to a net loss of 100 billion yen ($1.1 billion) in the current fiscal year through March.

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