Things Are Bad For Toshiba Right Now
The Japanese-based company is cutting 6,800 jobs and selling off its TV division ahead of an expected $4.5 billion loss.By Matt Moreno | December 21, 2015
Once a leader in manufacturing televisions and other consumer electronics, Toshiba is cutting nearly 7,000 jobs worldwide after projecting a $4.5 billion loss for the fiscal year.
Those cuts will impact the personal computer, video product and consumer electronic divisions, allowing Toshiba to focus on its nuclear power plant division. (Video via Toshiba)
The company also announced it's selling off what's left of its TV division, making a deal with Hong Kong-based Skyworth for $25 million. Toshiba, in a press release, called the deal "negligible" in relation to its impact on the company's financial results. (Video via Skyworth)