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Business

Huge net loss, job cuts on the way

TOKYO -- Fresh from a mammoth accounting scandal, Toshiba will likely post a group net loss of more than 500 billion yen ($4.04 billion) for the fiscal year through this coming March. This is the largest pool of red ink in Toshiba's history, even more than the 398.8 billion-yen defeat the conglomerate suffered in fiscal 2008, at the height of the global financial crisis.     

Toshiba has some drastic restructuring to do, mainly with its TV and home appliances division.

     For fiscal 2014, which ended this past March, Toshiba posted a 37.8 billion-yen loss.

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