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Sunday 19th of April 2009
April 17, 2009

Toshiba to lay-off 4,000 contract workers


by Kay Murchie
Toshiba to lay-off 4,000 contract workers

The global economic downturn is claiming further victims as Japanese electronics giant Toshiba has announced today that 3,900 contract workers will lose their jobs by March 2010.

Executive vice president, Fumio Muraoka, said the contracts of the workers will not be renewed. The news comes as the company has already laid off 4,500 temporary workers.

The Japanese economy has been hit by a slump in demand for electronics equipment with companies such as Pioneer Corp, Samsung, Panasonic and Hitachi all announcing big losses and major job cuts in the last few months.

Returning to Toshiba, the company expects to report a net loss of 350 billion yen (£2.39 billion) for the 12 months to the end of March - the loss is set to be the group’s first in seven years.

However, on a positive note, the company said prices of flash memory chips were now stabilising, boosting its performance at the operating level.

As well as making electronic goods, Toshiba is a leading maker of NAND flash memory chips that are used in iPods and other digital music players.

The news comes as mobile phone maker Sony Ericsson revealed a pre-tax loss of €358 million (£316 million) in the first quarter of 2009 and has announced plans to cut 2,000 jobs.

Furthermore, Cathay Pacific Airways, Asia’s third-biggest carrier, has asked its entire 17,000 workforce to take unpaid leave.

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