Toshiba to Cut 5,000 Jobs in Latest Bid to Restructure, Nikkei Reports
- The company is struggling to recover from series of missteps
- More Japanese companies are cutting staff in recent times
The Toshiba headquarters in Tokyo.
Photographer: Kiyoshi Ota/BloombergToshiba Corp. is seeking to cut 5,000 jobs or roughly 10% of its headcount in Japan, the Nikkei reported, underscoring the fading stigma of layoffs in a country grappling with chronic labor shortages.
The move could initiate one of Japan’s biggest rounds of staff reductions this year. The Tokyo-based company is downsizing noncore businesses and will book a one-time cost of roughly ¥100 billion ($650 million) as a result, the Nikkei reported without saying where it got the information.