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Toshiba predicts $4.5bn loss, plans to fire 7,000 employees

Discussion in 'General Business and Entrepreneurship' started by EF-Roger, Dec 21, 2015.

  1. EF-Roger

    EF-Roger Entrepreneur

    Toshiba's financial struggles have reached breaking point, leading to a restructuring effort which will see thousands lose their jobs and a loss of $4.5 billion over the fiscal year.

    The company, which operates in industries ranging from consumer technology to nuclear, is fighting to regain an even financial footing in the wake of an accounting scandal which shook the firm to the roots of its foundations.

    In a punishing effort to keep the company afloat, Toshiba executives have revealed plans to shed businesses, streamline corporate practices and bring down operating costs.

    Read more www.zdnet.com/article/toshiba-predicts-4-5bn-loss-plans-fire-7000-employees/

  2. pwarbi

    pwarbi Entrepreneur

    Often when a company announces plans to restructure it's one last chance of making ends meet before it collapses altogether.

    With a company the size of Toshiba, this may not be the case, I certainly wouldn't be buying any shares in them anytime soon, that's for sure.
  3. dyanmarie25

    dyanmarie25 Entrepreneur

    Woah, that's quite saddening. A lot of people would eventually lose their jobs. I didn't know Toshiba is already on the verge of bankruptcy. I thought they're doing pretty well.
  4. pwarbi

    pwarbi Entrepreneur

    I'm not sure they're on the verge of bankruptcy, companies as big as that rarely go out of business but to say they are struggling is an understatement.

    Sadly, it's times like these that affect the workforce rather than those at the top. The management are the ones that make the mistakes, but it's the workers that usually pay the consequences.

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