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© mopic _dreamstime.com Electronics Production | December 15, 2015

Thousands of jobs on the line at Toshiba?

Media reports suggests that the Japanese company is planning to reduce its workforce with up to 7'000 jobs, primarily in its consumer electronics segment, which hasn't been doing to well lately.

Toshiba has entered the final stages of planning the payroll cuts on Monday, according to a report in Nikkei. The company is looking to reduce its operations at its Ome facility, where the company manufactures TVs and computers – it could stop developing TVs completely. According to the report Toshiba will disclose its plans later this month. There have been several media reports about Toshiba's plans for its TV business, and the company has made an official response saying that it “is promoting fundamental structural reforms of businesses facing operating challenges, and toward this all possible measures are under review, without limitation.” The company has also responded directly to the Nikkei report saying that the information in not official and that no decision has yet been made. However, it also states that measures under consideration for the Lifestyle business – including the Home Appliances and TV businesses – include securing further improvements in business efficiencies and business restructuring with other companies. But as stated before, nothing has been decided at present. Also, nothing has been decided in respect of the sales of shares of Toshiba Tec Corporation and Toshiba Medical Systems Corporation, and no concrete agreements have been entered into with any specific companies.
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