Toshiba to halve global TV workers

Bloomberg

Toshiba Corp.will halve the number of workers in its television operations outside Japan to 3,000 as it outsources more production.

As much as 70 percent of the company’s TV output will come from other manufacturers by business 2014, Toshiba said in a statement Monday.

Toshiba will restructure its video and home appliance operations and close two of the three internal TV production sites it has overseas, it said.

Japanese TV makers are struggling with declining demand and falling prices amid competition from South Korean rivals including Samsung Electronics Co. and LG Electronics Inc. Toshiba has been hurt by falling sales of LCD sets and weaker demand for desktop and laptop computers as consumers shift to smartphones and tablet computers.

Toshiba had about 206,000 workers as of March 31, according to data compiled by Bloomberg.