Japans Toshiba Corp to shed off 4,500 jobs amid crisis

January 29th, 2009 - 3:25 pm ICT by David M N James  

The global economic meltdown seems to be taking a toll on key corporations. There is worrying trend in the global financial including the slow issue of the Global Islamic fund renowned Sukuk and a weakening global economy. Collapse of financial institutions and sudden bankruptcy of manufacturers has preceded the unending global fiscal crisis. Another possible victim of the collapsing global economy is the Toshiba Corp of Japan.

Latest reports from Japan indicate that Japan’s Toshiba Corp. will cut 4,500 jobs by the end of March. This comes after a projection by its executives that it was certainly going into the red this year. The projection is worrying. Toshiba is one of the world’s most reputable companies. Its products especially laptops and television sets have gained popularity and are household names. Toshiba laptops are highly reputed across the world. They are the most used laptops. Toshiba is one of the traditional high quality products makers. It has a number of electronics including flat-screen television and LCD and plasma television sets among other key electronics.

The projection that the company will undergo a crisis later this year is one of the most honest analyses ever. Rarely do financial analysts and company executives confess that their company is going under. With about 4,500 targeted for the lay off, Toshiba hopes to make inroads in 2010 after recuperating from key problems that could be biting its operations and liquidity in a world of general recession.

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