Toshiba is letting go 3000 employees at its electronics plants, and is switching TV production to 4K displays. Two factories will be affected by the closures, affecting about half of its manufacturing staff. Toshiba has factories in China, Indonesia, and Poland, making its Regza-branded sets, although has not announced which plants would be affected.
Toshiba said it would also be withdrawing from unprofitable markets. A shift in focus to making large screen ultra high-definition 4K LCD TVs “where growing demand is expected” is the goal of the company, Toshiba said. The company lost $166 million in the year to March 31st.