SINGAPORE: Embattled Japanese conglomerate Toshiba said on Monday (Dec 21) it is expecting an annual loss of nearly 550 billion yen (US$4.53 billion) and will be cutting jobs in its loss-making consumer electronics business as it embarks on a bold restructuring plan in an effort to move beyond an accounting scandal.
The Tokyo-based company announced that it is slashing 6,800 jobs and will be selling its television manufacturing plant in Indonesia. With the inclusion of previously announced job cuts and those seeking voluntary early retirement, eventual job cuts could total up to 10,600, or about 5 per cent of Toshibas global workforce.
As a result of these restructuring costs, the conglomerate with businesses ranging from laptops to nucl…
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