Toshiba, the renowned Japanese conglomerate, announced on Thursday that it will cut up to 4,000 jobs in Japan. This move is part of a strategic plan to enhance efficiency under its new ownership, as reported by Reuters. The job cuts will impact approximately 6 percent of Toshiba's workforce in Japan. Additionally, the company plans to relocate its headquarters from central Tokyo to Kawasaki, a city west of Tokyo. Toshiba aims for these changes to bolster profitability over the next three years.
In December, Toshiba was delisted from the stock market following a $13 billion acquisition by a consortium led by Japan Industrial Partners (JIP), a private investment firm. This acquisition concluded a challenging decade for Toshiba, marred by scandals and financial difficulties.
Toshiba’s goal is to achieve a profit margin of 10 percent within the next three years, a key part of its strategy to strengthen and stabilize the company. This announcement is part of a broader trend in Japan, where several companies have recently disclosed job cuts. For instance, Konica Minolta, a photocopier manufacturer, also announced workforce reductions. These measures reflect how companies are adapting to challenging economic conditions. Toshiba hopes that by reducing costs and implementing these changes, it will thrive under its new management.
Tech Industry Layoffs in 2024
Apple has laid off 614 employees, marking its first major job cuts since the pandemic began. Most of the affected employees were part of Apple's special projects group, including those working on the now-cancelled self-driving car project. The number of layoffs might be higher, considering some overseas employees were also let go.
Google has also cut a substantial number of jobs, particularly in teams working on Python, Flutter, and Dart. These layoffs are part of a company restructuring. Affected employees have the chance to apply for other jobs within Google. Additionally, Google's real estate and finance departments experienced job cuts last month, with some roles moving to new hubs in India, Chicago, Atlanta, and Dublin.
Amazon is cutting hundreds of jobs in its cloud computing division, AWS. These cuts impact sales, marketing, and tech roles for both AWS and Amazon's physical stores. This is part of Amazon's efforts to streamline operations and focus on core business areas. The AWS cuts are the latest in a series of job reductions by Amazon.
Intel confirmed it is laying off about 62 employees at its headquarters in Santa Clara, California. These layoffs are part of a reorganization within Intel’s Sales and Marketing Group, led by Christoph Schell.
These job cuts across major tech companies highlight a trend of cost-cutting and restructuring in the industry. Affected employees are being offered opportunities to apply for other positions within their companies, reflecting an effort to retain talent despite the organizational changes.
