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Toshiba Cuts 7,800 Jobs Following Accounting Scandal

The company is also looking to offload some of its divisions.

by Tom Warren
Chris McGrath / Getty

Toshiba’s consumer electronics division is struggling. Toshiba’s former president and CEO Hisao Tanaka stepped down six months ago today, following a disclosure that the company had declared $1.2 billion in false profit. The fallout from the scandal is hitting employees directly today as part of a “revitalization action plan.”

Toshiba is cutting 7,800 jobs in total as part of a major restructuring for the Japanese tech firm, with the vast majority affecting employees in the company’s consumer electronics division. Toshiba is now looking to offload some of its divisions, including its health care products and its PC business.

Read the rest of this post on the original site »

This article originally appeared on Recode.net.

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