Toshiba to cut global TV division workforce by 3,000

Toshiba Corporation plans to reduce global staff in its TV division by 3,000 and to stop manufacturing at one of its three overseas plants by the end of this financial year.

The three factories in question are located in China, Indonesia and Poland. The company has not yet decided which two will continue operation and which will be shut.

The moves are part of a broader reform of the company’s Visual Products Business which was announced in a statement on Monday.

The reforms are intended to improve the profitability and strengthen the foundations of the business.

Apart from the job losses and factory closure, Toshiba intends to focus on emerging markets including Asia, the Middle East and Africa, where growth in demand is expected. And the company will stop selling to unprofitable markets.

Toshiba will allocate resources to large screen Ultra HD (4K) LCD TVs, where growing demand is expected, to differentiated functions for viewing and recording. 

The company will also concentrate resources on strengthening cloud services, which are expected to enhance linkage between digital products and between digital products and home appliances. 

Toshiba will reinforce development of visual products for business applications, including digital signage, another area where demand is growing.