Toshiba job cuts could top 1,000: Nikkei

[TOKYO] Japanese conglomerate Toshiba Corp could cut more than 1,000 jobs as it overhauls its weaker operations, including through an imminent sale of its Indonesian television factory, the Nikkei business daily reported on Thursday.

Toshiba, whose businesses range from home appliances to nuclear power, has been looking to restructure its operations as it works to recover from a US$1.3 billion accounting scandal.

The Nikkei said Toshiba was in final negotiations with electronics makers in Taiwan, mainland China and elsewhere to sell its Indonesian TV plant, adding the factory was likely to fetch several billion yen.

Toshiba said in a statement that nothing had been decided, including the sale of the Indonesian TV factory.

Shares in Toshiba were up 1 percent in Tokyo, outperforming a drop in the overall market.

Chief Executive Masashi Muromachi has said Toshiba could lay off staff in its underperforming home appliances, TV and PC businesses.

REUTERS