Toshiba to cut 3,000 jobs and outsource production to stem TV losses

Toshiba to cut 3,000 jobs and outsource production to stem TV losses:

It's not as if Toshiba's TV division has been totally silent recently, but it apparently hasn't been making enough noise to justify the continued employment of its full, 6,000-strong workforce. Although it's not quite ready to give up, the Japanese manufacturer is scaling back its TV operation heavily: losing half of its staff globally and closing two of its three TV factories in favor of more outsourced production. The cuts are intended help Toshiba meet its target of $101 million in cost savings and the company hopes its TV division will return to profitability this year -- but as you'd expect, at a much smaller scale than it once had.
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Source: Reuters