Toshiba to axe 7,000 peoples’ jobs

The long awaited restructuring of Toshiba will put at least 7,000 people out of work, it has emerged.

Toshiba will sell off its TV business, can its PC notebook business and streamline itself by concentrating on making semiconductors and working on nuclear energy.

Toshiba found itself in a $1.3 billion accounting mess and the new management has been forced to make drastic changes. Toshiba has been in notebook PCs since the very beginning but while it used to be one of the top notebook manufacturers, that position has dwindled over the years.