Sharp Corp. (6753.TO) on Tuesday said it will offer voluntary retirement to about 2,000 domestic workers in November as part of a previously announced labor reduction plan aimed at addressing the company's serious financial woes.

The hard-hit Japanese electronics maker, which racked up a record 376.08 billion yen group net loss in the fiscal year that ended in March and predicts a Y250 billion loss for the current fiscal year, has been pursuing a number of different avenues, including job cuts, to strengthen its financial standing.

Last week a person close to the matter said Sharp is mulling selling the TV factories--one in China and the other in Mexico--as part of talks with Taiwanese partner Hon Hai Precision Industry Co. (2317.TW).

Earlier this month, Sharp unveiled a plan to cut 5,000 workers. The staff reduction, excluding the latest voluntary retirement plan, will take the form of natural attrition and other steps.

The Japanese company said Tuesday it will offer early retirement to workers at the parent company and its major domestic subsidiaries between Nov. 1 and Nov. 14.

The program will cost around Y27 billion, it said. The cost has already been factored into its earnings outlook for its business year ending March 2013, released earlier this month.

Separately Tuesday, NEC Corp. (6701.TO) said that a total of 2,393 workers groupwide have accepted the voluntary retirement offer it made in July.

The Japanese computer maker and provider of technology services will report extra expenses worth Y2.9 billion for the second quarter ending September, in addition to expenses it already booked in the previous fiscal year.

But its cost cutbacks will moderate the additional cost burden, so it kept unrevised its previous earnings outlook for the first half and full business year through March 2013.

Write to Hiroyuki Kachi at Hiroyuki.Kachi@dowjones.com

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Sharp to Offer Voluntary Retirement to 2,000 Japan Staff