toggle

AAPL Stock: 121.3 ( -1.07 )

Printed from http://www.macnn.com

Toshiba shuttering two TV factories, laying off 3,000

updated 06:00 pm EDT, Mon September 30, 2013

Move intended to restore profitability to beleaguered department by 2014

Electronics manufacturer Toshiba is cutting its television division by 50 percent, and closing two facilities used for flat-panel manufacture. While not completely shutting down the department, the company expects that the changes will help the company see profitability in television sales in a tightening market before the end of 2014.

Additionally, the company is shifting focus to emerging markets in the Middle East and Africa where it notes that "growing demand is expected" rather than putting more effort into the highly-competitive European and North American markets.

Consolidating manufacturing efforts from three facilities to one and reducing product lines is intended to "improve profitability and strengthen foundations of the business." Responding to the 3,000-employee layoff report, the company claimed that "Toshiba aims to see profit in its visual products business in the second half of this fiscal year through continued review and reform of business processes and operations."




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented