Tokyo, April 17, 2024 (TASR) – Japanese conglomerate Toshiba plans to cut 5,000 jobs, or about 10% of its domestic workforce, as part of a restructuring, the Nikkei newspaper reported on Wednesday. TASR took over the report from the Bloomberg agency.
This move could mark one of the largest rounds of layoffs in Japan this year. The company is shedding non-core divisions. As a result, it expects one-time costs of around 100 billion yen ($750 million), Nikkei reported.
Toshiba, once one of the country’s largest employers, is trying to cut costs across its sprawling operations and focus on infrastructure and digital technologies.
Toshiba Statistics:
- Number of employees:
- Total: 58,000 (pre-restructuring)
- Post-restructuring: 53,000 (estimate)
- Laid off: 5,000
- Financial results:
- Revenue: 2.9 trillion yen (2023)
- Net profit: 42.1 billion yen (2023)
- Loss from failed nuclear expansion: 1.3 trillion yen (2017)
Other key information:
- The company was founded in 1875.
- It is headquartered in Tokyo, Japan.
- It operates in a variety of industries, including infrastructure, energy, electronics and digital technologies.
- In 2015, it paid a record fine in Japan for accounting fraud.
- In 2017, it sold its memory chip division, Kioxia Holdings Corp.
- It is currently focused on cost reduction and strategic transformation.
Sources:
- TASR (TASR report)
- Nikkei
- Bloomberg
- https://www.global.toshiba/ww/top.html
