Toshiba to cut TV business costs by $104 million this fiscal year: Nikkei
(Reuters) - Japan's Toshiba Corp plans to cut about 10 billion yen ($104 million) in costs this fiscal year by reorganizing its network of television factories in Indonesia, China and Poland, the Nikkei said, citing company sources.
Toshiba wants to make its TV operations profitable this year by overhauling its global production network and raising prices after the business lost almost 50 billion yen on a consolidated basis last business year, the Japanese daily said.
Several hundred workers in the sales and design departments of the TV business are to be transferred to growth operations such as infrastructure and medical equipment, the daily said.
The company will also overhaul design specifications so that its TVs use more common parts, which would make it easier for factories to trim costs, the business newspaper said.
($1 = 95.5950 Japanese yen)
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Maju Samuel)