Toshiba Corp. said Thursday it will slash up to 6 percent of its workforce in Japan by offering staff early retirement packages and reduce redundant operations by integrating key subsidiaries, in its first major revamp plan for turning its business around after going private late last year.
"This is a necessary thing to do to ensure the company survives for the next 100 years," President Taro Shimada told a press conference in Tokyo as the industrial conglomerate announced its medium-term business plan that included shedding 4,000 jobs.
The early retirement plan aims to cut labor costs and targets domestic employees aged 50 and over working at Toshiba group firms. Most of the job cuts will be in back-office departments, it said, adding that it plans to complete the process by the end of November....more here