Sharp asks staff to buy its own products

Dwindling profits have forced the electronics giant to take radical action.

by Jack Torrance

Sharp, the Japanese electricals giant, has asked staff to put up their own money as it tries to avert disaster. The company has had a difficult few years thanks to increasing competition from companies in China and Taiwan and its shares hit a 40-year low in September.

Rather than focusing on improving its strategy, brand or prices, the company is asking its staff to foot the bill for a turnaround. According to local media reports picked up by the FT, the head of Sharp’s electronics division wrote to staff asking them to help 'weather this extreme difficulty' by splashing out on its products.

Execs are expected to spend Y200,000 (£1,065), middle managers will have to fork out Y100,000 and front line staff will be asked for Y50,000. In a company where the average salary is around Y600,000 per month, that’s a pretty hefty chunk, and they will only get a discount of 2% on the normal sale price.

Sign in to continue

Sign in

Trouble signing in?

Reset password: Click here


Call: 020 8267 8121



  • Up to 3 free articles every 90 days
  • Free email bulletins

Register Now

Take a free trial

Get 30 days unrestricted access to:

  • All the latest news, trends, and developments.
  • Exclusive interviews with CEOs and thought-leaders
  • MT Classroom - giving you an academic grounding without expensive courses
  • Management Matters and other in-depth content.
  • Daily bulletins straight to your inbox

Take a free trial today