Toshiba warns of record 4-billion euro loss



The cost of Toshiba’s accounting scandal continues to hit hard.

The Japanese giant is to cut almost a third of its workforce in its consumer electronics and appliances unit – almost 7,000 jobs – plus another thousand at its headquarters.

Its president Masashi Muromachi told a news conference that the restructuring programme would transform it into a “robust business”.

But the company now expects a record loss of over four billion euros in the next fiscal year.

Toshiba confirmed in August that it overstated profits going back several years by over a billion euros.

An earlier independent accounting probe criticised the management and work culture.

-- (c) Copyright Euronews 2015-12-27

Japanese work culture - look busy even though you have completed all your assigned tasks and the boss is still at his desk at 8pm.

Toshiba gave bad quality and afterservice for many years, now they have to suffer for that. I don't buy their products anymore.

My Toshiba laptop from 2009 is still up and running. Posting from it now. Maybe the quality dropped after my model was produced. Mine is still good.

My Toshiba laptop from 2009 is still up and running. Posting from it now. Maybe the quality dropped after my model was produced. Mine is still good.

I had a high-end toshiba/siemens laptop which burned out after 2 years.

By EU-law durable goods ALWAYS get 3 years warranty but they wouldn't help me at Toshiba.

I also have a toshiba air-purifier from Central but after 2 years they changed the models and now i can't buy new filters. It's a good machine though, very silent.

Solly solly, i mean Fujitsu Siemens, not Toshiba....must be hot here. The airpurifier is a toshiba though.

Edited December 27, 201510 yr by Thian

....hmmmm....

Can't loose face, keep reporting profits and good news.

This just adds to the list of large companies that are only now getting caught or being outed from the "look the other way" gang.

They'll be more to come...

Japanese work culture - look busy even though you have completed all your assigned tasks and the boss is still at his desk at 8pm.

8pm? That's North America. I hear through ppl in the investing industry there working up to midnight. And this is not because of the time difference of the western markets.

Edited December 27, 201510 yr by Friendly Stranger

A parallell case to Minolta.

Refused to fire personel and hid losses by buying null value companies for big money.

Big money on the paper, that is

Japanese work culture - look busy even though you have completed all your assigned tasks and the boss is still at his desk at 8pm.

You can add Taiwan and South Korea to that list as well.

Japanese work culture - look busy even though you have completed all your assigned tasks and the boss is still at his desk at 8pm.

8pm? That's North America. I hear through ppl in the investing industry there working up to midnight. And this is not because of the time difference of the western markets.

Silicon Valley is, get in at 10, leave at 17.30

On average.