Japan’s Toshiba has said it will cut nearly 7,000 consumer electronics jobs after a $1.3bn 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 about 550bn yen (£3bn) in this financial year ending in March.
"By implementing this plan, we would like to regain the trust of all stakeholders including shareholders and transform ourselves into a robust business," it said in a statement.
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