Toshiba To Retrench 7,000 Staff: Sources

Toshiba Corp is set to cut up to 7,000 jobs, as part of its efforts to streamline operations in the wake of an accounting scandal.
Sources said, most of the 6,000-7,000 job cuts will be in the company’s lifestyle segment, which includes consumer appliances, the newspaper said.
Toshiba is also looking to drastically reduce operations at its Ome factory, Tokyo, which makes televisions and personal computers, and is considering stopping developing televisions altogether.
It is to be noted that the Japanese conglomerate’s chief executive, Hisao Tanaka, and a string of other senior officials resigned in July in the country’s biggest accounting scandal in years. An independent inquiry had found that the CEO had been aware the company had inflated its profits by $1.2 billion over a period of several years. The company spokesperson could not immediately be reached for comment.

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