Toshiba to cut 7,000 jobs in PC and TV units, sees full-year loss
  • 8 years ago
Japan's Toshiba Corp said on Monday it will cut nearly 7,000 consumer electronics jobs after a $1.3 billion accounting scandal, in an overhaul that will streamline the sprawling conglomerate into a company focused on chips and nuclear energy. Toshiba also said it would sell its television manufacturing plant in Indonesia, and that eventual job cuts spanning the entire PC-to-nuclear company could be over 10,000 including previously announced cuts and those seeking voluntary early retirement. Due to restructuring costs, which include the sale of its Indonesian TV plant, Toshiba said it expected a net loss of around 550 billion yen ($4.53 billion) in this fiscal year ending in March. Toshiba's stock has fallen about 40 percent since news of its accounting problems began to emerge in early April.
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