Toshiba Corporation is reportedly planning to reduce its workforce by 5,000 jobs in Japan and scale down its non-core business operations

Toshiba is downsizing non-core businesses and will book a one-time cost of roughly $650 million as a result, the Nikkei reported

Toshiba Corporation intends to reduce its workforce in Japan by approximately 5,000 employees, which represents about 7% of its total headcount in the country. This decision is part of Toshiba's efforts to expedite its restructuring process, as reported by Nikkei.

As part of its restructuring efforts, the Tokyo-headquartered company is scaling down its non-core operations. This move is expected to incur a one-time cost of approximately ¥100 billion ($650 million), according to the Nikkei's report.

Toshiba, formerly among Japan's largest employers, has been striving to streamline its operations and concentrate on its infrastructure and digital technology sectors.

In a trend seen across various industries, several companies, such as cosmetics brand Shiseido Co., thermometer manufacturer Omron Corp., and photocopier maker Konica Minolta Inc., have disclosed plans for workforce reductions.

Although Toshiba is formulating its midterm strategy, specific decisions have yet to be finalized, as stated by a company representative in an email to Bloomberg.

Toshiba, formerly among Japan's largest employers, has been striving to streamline its operations and concentrate on its infrastructure and digital technology sectors.

In a trend seen across various industries, several companies, such as cosmetics brand Shiseido Co., thermometer manufacturer Omron Corp., and photocopier maker Konica Minolta Inc., have disclosed plans for workforce reductions.

Although Toshiba is formulating its midterm strategy, specific decisions have yet to be finalized, as stated by a company representative in an email to Bloomberg.

Souce: MINT‍