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Toshiba to cut thousands of jobs in major restructuring move



Toshiba Corp is set to cut thousands of jobs in Japan, primarily in back-office departments, as part of a new business strategy to be revealed by mid-May. This strategy aims to streamline operations and cut costs, aligning with Toshiba’s focus on growth areas like infrastructure, energy, and digitalisation. The announcement follows Toshiba’s delisting in December, after a JPY2tr (USD12.96bn) buyout led by Japan Industrial Partners Inc., designed to help the company recover from past setbacks, including an accounting scandal and losses in its U.S. nuclear business. Toshiba had 106,648 employees as of March 2023 and reported a net loss of JPY107bn yen for the nine months ending in December, largely due to poor performance by its affiliate, chipmaker Kioxia Holdings Corp.

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