POST Online Media Lite Edition


Toshiba is cutting 6,800 jobs

Staff writer |
Toshiba Corp. is cutting 6,800 jobs, 30% of its global total by March 31, 2015. The company is projecting a net loss of 550 billion yen ($4.5 billion) for the fiscal year through March 2016.

Article continues below

Toshiba said that it will implement a series of management measures under a revitalization plan.

Toshiba said it will slash the jobs in its personal computer, video product and consumer electronic businesses. The job cuts equal about 3 percent of Toshiba's overall employees. It is also selling its TV plant in Indonesia.

Toshiba, which also makes nuclear power plants, has repeatedly apologized after acknowledging it had systematically doctored its books over several years to inflate profits by 152 billion yen ($1.3 billion).

Japanese media reports said the loss forecast for this fiscal year would be a record for Toshiba, surpassing the massive losses during the Lehman financial crisis.

What to read next

Toshiba may book $4.3 billion loss on U.S. nuclear acquisition
Toshiba to sell medical unit to Canon for $6.1 billion
Toshiba to cut up to 7,000 jobs