Toshiba to Cut 3,900 More Jobs

April 17, 2009
Company predicts conditions will remain severe in 2009

Toshiba Corp. will cut a further 3,900 temporary jobs by next March to cope with the global economic downturn, a company official said on April 27.

The group will not renew the contracts of the employees, most of whom are temporary workers, executive vice president Fumio Muraoka said.

Toshiba, which has already laid off 4,500 temporary workers, warned earlier in the day it expects a net loss of 350 billion yen (US$3.5 billion) for the financial year that ended last month, even more than previously forecast.

At the same time the company expects a smaller operating loss of 250 billion yen, against 280 billion yen projected earlier.

Even so, Toshiba "cannot be optimistic that the business environment is improving. Conditions are likely to remain severe in 2009," said Muraoka.

Copyright Agence France-Presse, 2009

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