Sad news from Toshiba today as the electronics manufacturer is cutting its television division by fifty percent, and closing two factories used for flat-panel manufacture. The department is not completely shutting down and the company expects that the changes will help them achieve profitability in television sales.
The company will be shifting focus to emerging markets in the Middle East and Africa where “growing demand is expected” rather than putting more effort into the highly competitive European and North American markets. Those two moves are good ones and should indeed help the company.
Sadly this means that 3000 employees will be laid of layoff, but hopefully they can swing back and who knows, maybe re-hire some of those people. One can always hope.
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