https://layoffcheck.com/companies/toshiba Layoff and WARN notices reported for Toshiba. en-us https://layoffcheck.com/companies/toshiba#2024-05 https://layoffcheck.com/companies/toshiba#2024-05-805 Thu, 16 May 2024 12:00:00 GMT Newly privatized Toshiba announced on May 16, 2024 that it would cut up to 4,000 jobs in Japan, roughly 6% of its domestic workforce, as part of a wide-ranging revitalization plan following its $13 billion takeover by a private equity consortium led by Japan Industrial Partners. The reductions would be carried out through a voluntary early retirement program targeting employees aged 50 and older, with most departures concentrated in back-office departments. President Taro Shimada called the restructuring "a necessary thing to do to ensure the company survives for the next 100 years." Alongside the job cuts, Toshiba planned to integrate four subsidiaries into the parent company, consolidate two Tokyo-area headquarters into a single Kawasaki facility, and reduce staff organizational units by 20%. The company set a target operating profit margin of 10% by fiscal 2026, with future investment focused on EV semiconductors, AI products, and renewable energy equipment.