Core Points - Toshiba plans to cut up to 4,000 jobs in Japan as part of a restructuring program following its delisting in September after being taken private by a consortium [1][5] - The job cuts will be achieved through voluntary early retirement for employees aged over 50 who meet specific criteria, with the aim to restore the company's growth trajectory [2] - Toshiba targets an operating profit of 380 billion yen ($2.5 billion) and a return on sales of 10 percent by fiscal 2026, along with relocating its head office functions to Kawasaki by the first half of fiscal 2025 [3] Company Background - Toshiba has faced multiple crises in recent years, including a significant accounting scandal in 2015 and substantial losses from its US nuclear subsidiary Westinghouse [4] - The company was taken private in March 2023 through a takeover bid worth around $14 billion, leading to its shares being delisted after over 70 years on the Tokyo stock exchange [5]
Toshiba to cut up to 4,000 jobs in Japan