TapTechNews May 16th - Toshiba announced that the group will cut as many as 4000 employees in Japan and merge four subsidiaries into the parent company to reduce costs, under the accelerated restructuring led by the new leadership
Toshiba was acquired by a consortium led by Japan Industrial Partners at 2 trillion yen (about 930 billion RMB), and will be delisted by December 2023, ending more than a decade of turmoil
Toshiba's goal is to achieve sales of 3.75 trillion yen and operating profit of 380 billion yen by 2023 fiscal year, which is nearly ten times the current profit
President Shimada stated that since 2015, it is necessary to optimize staff numbers with business divestitures, a painful decision to ensure the company's existence for 100 years. In addition, Toshiba will relocate its headquarters functions from Hamamatsu-cho, Tokyo to Kawasaki, Kanagawa
Earlier, Toshiba sold its medical equipment business to Canon, laptop business to Sharp, white goods business to Midea, and consumer electronics business to Hisense