Toshiba plans to lay off 5 000 employees

Toshiba plans to lay off 5000 people, equivalent to a tenth of the number of employees in Japan, in order to reduce costs and focus on infrastructure and digital technology operations.

According to Nikkei, Toshiba plans to lay off 5000 people, equivalent to a tenth of the number of employees in Japan, in order to reduce costs and focus on infrastructure and digital technology operations.

The Tokyo-based company, whose fields of activity range from light bulbs to nuclear power plants, plans to lay off employees in parts outside the core part of the parent company. The majority of the layoffs will consist of administration and back-office employees, and "voluntary retirement" offers will be prioritised.

Toshiba has been plagued by scandals for years

Toshiba, which was acquired last year by a consortium led by Japan Industrial Partners, is looking for ways to pull itself together. The recently privatised company has been plagued by management missteps and scandals for years. In 2015, the company was fined the country's largest ever fine for falsifying financial statements. It was then forced to sell Kioxia the company's chip division, in order to pay the losses incurred in order to pay its huge losses due to improper planning in the nuclear power plant business. Toshiba announced a loss of $ 691 million in the 9-month period ending in December 2023.