Sharp will axe more than 10 percent of its Japanese workforce starting in April, according to March 19 reports by Japanese newspapers Nihon Keizai Shimbun (Nikkei) and Yomiuri Shimbun. The electronics manufacturer will slash about 3,000 jobs through voluntary retirements and expects to book about 30 billion yen ($250.00 million) in retirement-related expenses for 2015, the papers said.

Sharp's could also shed its North American television business as part of its plans to restructure operations in unprofitable businesses, the Nikkei said.

The company could also cut more than 2,000 jobs mostly in the Americas, representing about 10 percent of its workforce outside Japan, the Nikkei reported.

Sharp is also expected to lower the pay scale for its domestic workers in 2015, to curb personnel costs.

Rssponding to teh reports, Sharp said that no desicions have been mdade yet, and that the company is working working on its new Medium-Term Management Plan, which is scheduled to be announced around May 2015.

"We are currently considering various options based on our fundamental structural reforms, but no specific decisions are made at this time," Sharp said in a statement.

"Under the current severe business environment, Sharp is considering various options to reduce overall fixed costs, but no specific decisions are made apart from the voluntary salary cut of directors and executive officers which was announced earlier. We will make timely announcements when any decisions are made for items which require disclosure."