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See the best of Reuters photography. See more | Photo caption WTC rises again The new World Trade Center surpasses the Empire State Building as the tallest building in New York. Slideshow Striking miners Demonstrations continue as wage talks to end the month-long Lonmin strike fail to start as scheduled. Slideshow Sharp to cut salaries in a fresh bid to squeeze costs Tweet Share this Email Print Related News Banks hammer out Sharp refinancing before Hon Hai deal: sources Fri, Sep 7 2012 UPDATE 3-Banks hammer out Sharp refinancing before Hon Hai deal-sources Fri, Sep 7 2012 Hon Hai chairman demands management role at Japan's Sharp Mon, Sep 3 2012 Investors cast doubts on Sharp's future, ability to pay debts Fri, Aug 31 2012 Sharp's output of new iPhone displays lagging -source Fri, Aug 31 2012 Related Topics Tech » Media » TOKYO | Tue Sep 11, 2012 4:21am EDT TOKYO (Reuters) - Japan's Sharp Corp said it will trim salaries of its managers by a tenth for a year and seek an across-the-board wage cut for other workers as the cash-strapped TV maker looks for fresh ways to save money. In addition to a 10 percent pay cut, Sharp said in a statement on Tuesday it will also halve bonuses paid to managers, while seeking union agreement to lower the salaries of rank and file workers by 7 percent for a year, deeper than a 2 percent cut agreed in May. The latest cost-paring should save the company 14 billion yen ($179 million), adding to savings it expects from plans to trim 5,000 jobs, or a tenth of its workforce, including 2,000 redundancies in Japan. Those layoffs are the first at the firm in more than 60 years. By resorting to pay cuts Sharp may avoid having to add to those job losses and also be able to realize swifter cash savings. Redundancies in Japan are expensive, with workers typically receiving at least a year's salary in severance pay. For now, Sharp, which is also negotiating a cash injection from Taiwan's Hon Hai Precision Industry Co Ltd, is relying on its main banks -- Mizuho Financial Group and Mitsubishi UFJ Financial Group -- for funding. Sharp said last week it mortgaged nearly all of its domestic offices and factories, including one which makes screens for Apple Inc's latest iPhone, to secure the fresh loans of up to 150 billion yen it needs to stay in business. ($1 = 78.2900 Japanese yen) (Reporting by Tim Kelly and Miki Kayaoka; Editing by Michael Watson and Muralikumar Anantharaman) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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