TOKYO -- Toshiba will eliminate 10,600 jobs -- 5% of its global workforce -- as part of a restructuring that will spill loads of red ink this fiscal year, the Japanese manufacturer said Monday.
Toshiba expects to post a group net loss of 550 billion yen ($4.54 billion), its biggest ever, for the year ending in March. The company is moving with newfound speed to shake out underperforming segments obscured by improper accounting.
