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Toshiba plans to lay off 5,000 people, equivalent to about 7% of its total workforce in Japan. The move is part of the company’s privatization after it was delisted from the Japanese stock market and is the largest layoff since the accounting scandal in 2015.
The layoffs are mainly concentrated in the headquarters logistics department, aiming to streamline overlapping departments and use infrastructure and digital technology as the new development foundation.
The layoff plan is expected to be announced in May, and management will discuss specific details of layoffs in each department with the union. This may cause Toshiba to incur additional expenses such as benefits and job transition services, and is expected to suffer a loss of approximately 100 billion yen.
(Source: enanyang Image source: unsplash)
