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Latest News

Toshiba to axe 19,000 jobs

by Personnel Today 28 Aug 2001
by Personnel Today 28 Aug 2001

The
Japanese electronics giant Toshiba is to shed 18,800 jobs due to the slump in
the global semiconductor market.

Nearly
all the job cuts will be made in Japan, where 17,000 jobs will be lost and a
third of the company’s 21 manufacturing plants will close over the next two
years.

The
measures will cost Toshiba nearly £700 million in restructuring charges.

Company
president Tadashi Okamura said, “With this action plan we want to regenerate
the company. In order to boost production overseas we have to make reductions
at home.”

The
company expects to report a net loss of Y115 billion (£664 million) for the
year, its worst annual loss ever.

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www.toshiba.com

By
Karen Higginbottom

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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