Toshiba Corp says its temporary plan to cut 1,200 to 1,500 jobs a year by attrition is likely to last longer than originally thought because of slow domestic demand and the yen’s sharp rise, Reuter reports: In three to five years, a total of 5,000 jobs would be cut, from the present 75,000, the company said; Toshiba is already cutting its annual new recruitment to 2,500 this year and to 1,800 next year from about 3,000 a year over the past several years – that offset attrition to maintain the company’s work force at 75,000; the company also lowered its forecast for sales this year to a 3.2% increase from a 4.8% increase on last fiscal and a big 17.9% fall in profits from a marginal 0.3% increase.
