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Toshiba To Cut Half Of Global TV Staff

Tokyo — Toshiba said here Monday that it will cut half of the 6,000 workers in its global TV operations, close two of three overseas factories, and up its reliance on outsourcing by the end of the fiscal year. 9/30/2013 06:22:00 AM Eastern

Tokyo — Toshiba said here Monday that it will cut half of the 6,000 workers in its global TV operations, close two of three overseas factories, and up its reliance on outsourcing by the end of the fiscal year.

Toshiba said the cuts are necessary to help it reach a $101 million cost savings target and help return its TV division to profitability this year.

Meanwhile, Toshiba will increase outsourced production to 70 percent from 40 percent.

Two-thirds of the planned 3,000 staff cuts will be positions overseas, the company said.

The company did not say which two TV factories will be closing. The company currently has factories in China, Indonesia and Poland.

Toshiba’s TV segment has been losing money steadily due to the weakened global economy and reduced demand.

The company announced in July a plan to cut $101 million in combined costs from the television and PC businesses this fiscal year, and then double that figure the following year.

 

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