Electronics firm joins other Japanese companies downsizing
Electronics firm Toshiba will lay off 5,000 employees in Japan as part of its restructuring plan, according to reports.
Nikkei Asia reported on Wednesday that the firm's job cuts will be affecting back-office departments in the head office.
They will also likely impact roles that have become redundant as Toshiba absorbs subsidiaries.
Another downsizing measure eyed by Toshiba is offering voluntary retirements to staff, according to Nikkei Asia, which cited people familiar with the matter.
The downsizing is part of Toshiba's restructuring plan and is expected to have a one-time cost of around ¥100 billion ($650 million), Bloomberg reported.
The company is expected to begin talks with its labour union soon, according to the report, noting that Japan has some of the world's strictest worker protection laws.
Toshiba has been grappling with a management crisis after an accounting scandal in 2015 that led to huge losses and eventually delisting of the firm in 2023, Reuters reported.
The company joins Japanese firms Sony and Omron that also announced this year that they would be reducing their global headcount.
