The Japanese electronics maker lost 138.4 billion yen, or $1.8 billion, last quarter — more than double its loss a year prior — while sales fell off 28% as well. Plus, the company also increased the forecast for how much it expects to lose in the entire year.
The layoffs will slash around nearly 9% of Sharp’s global workforce.
Shares of the company have fell over 60% year-to-date, with over half that fall coming in the past month.
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