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Toshiba plans 10,600 job cuts, braces for record loss

Toshiba plans to sell Indonesian production facilities related to its television business.

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.

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