Japan’s Toshiba to shed 2,000 jobs at foreign TV plants

By Agence France-Presse
Monday, September 30, 2013 6:44 EDT
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Costco customers look at a display of LCD HDTV televisions in San Francisco, California. Three major Asian manufacturers have agreed to pay fines of $571 million to US states as part of the ongoing case on price-fixing of LCD displays for electronic devices, officials said Thursday
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Japan’s Toshiba said Monday it would shut or sell two of its three wholly-owned overseas television plants in the next six months, shedding 2,000 jobs.

The company, which has already ceased domestic production of television sets, said it will “integrate” its manufacturing facilities in China, Indonesia and Poland by the end of March 2014.

The company has not officially decided which one should survive, a Toshiba spokesman said, adding two of the three plants would be sold or shut down.

The Nikkei business daily reported the Indonesian factory could stay because of its high production efficiency.

The structural reform will halve Toshiba’s global workforce for visual products business, including liquid crystal display (LCD) TVs and Blu-ray recorder/players, from 6,000 at end-March 2013 to 3,000 at end-March 2014.

Of the 3,000, 2,000 jobs will be abroad while 1,000 will be in Japan, the spokesman said. The 1,000 workers in Japan will be relocated within the Toshiba group.

The Toshiba group currently has four TV manufacturing bases, including a joint venture in Egypt.

“Toshiba will focus on emerging markets including Asia, the Middle East and Africa, where growth in demand is expected,” the company said in a statement.

It will end sales of visual products in unprofitable regions, mostly Central and South America, excluding Brazil and Mexico.

Toshiba shares were down 0.22 percent at 444 yen in Tokyo afternoon trade while the benchmark Nikkei index was off 1.45 percent.

[Image via Agence France-Presse]

Agence France-Presse
Agence France-Presse
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