By Euronews
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The cost of Toshiba’s accounting scandal continues to hit hard. The Japanese giant is to cut almost a third of its workforce in its consumer
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The cost of Toshiba’s accounting scandal continues to hit hard.
The Japanese giant is to cut almost a third of its workforce in its consumer electronics and appliances unit – almost 7,000 jobs – plus another thousand at its headquarters.
Its president Masashi Muromachi told a news conference that the restructuring programme would transform it into a “robust business”.
But the company now expects a record loss of over four billion euros in the next fiscal year.
Toshiba confirmed in August that it overstated profits going back several years by over a billion euros.
An earlier independent accounting probe criticised the management and work culture.
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