Giant Japanese company Toshiba Corporation has decided to lay off 5,000 employees in Japan. This is 10 percent of the company’s total workforce. This decision has been taken by Toshiba due to the operational restructuring of the company. The company wants to focus on sectors like infrastructure and digital technology. Let us tell you, Toshiba is one of the largest employer companies in Japan. But in recent years the company has faced some difficulties. Many types of management and scams have come to light in the company.
big layoffs in japan
This is one of the biggest layoffs in Japan in recent years. This will have an impact on the corporate culture of Japan, where layoffs are not common due to strong labor laws. There is a shortage of employed people and young people in Japan compared to other countries. Nikkei reports that other major Japanese companies, including Shiseido, Omron and Konica Minolta, have also recently announced staff cuts.
Toshiba in trouble
Toshiba is an MNC company of Japan. Its business is spread in many countries of the world. The company deals in laptops, rice cookers and electronics along with many other sectors. The company suffered a major setback due to the scams and management issues that surfaced in 2015, after which the company is trying to emerge. Due to this the company had to pay a huge fine.
According to Japanese media Nikkei, Toshiba does business in nuclear turbines, batteries and quantum technology etc. Due to retrenchment, the company will have to give many types of benefits to the employees and due to this the company will have to bear the financial burden of about 650 million dollars.
Latest Business News