Toshiba to cut about 5,000 jobs

10:47 - 18.04.2024

April 18, Fineko/ Toshiba Corporation intends to cut 5,000 jobs in Japan, which is about a tenth of its staff in the country.

ABC.AZ reports, citing Nikkei, that this move is aimed at reducing costs and strengthening the focus on infrastructure and digital technologies.

The company, which operates in various fields from lighting to nuclear energy, plans to reduce the number of employees in non-core divisions. This is expected to result in one-time losses of about 100 billion yens, or about $650 million.

In 2015, Toshiba had to pay the largest fine in Japanese history for falsifying financial statements, and then it was forced to sell its memory chip business to Kioxia Holdings Corp. to compensate for losses from failed expansion in the nuclear sector.