Toshiba Corp. forecast a record ¥550 billion loss for the current fiscal year following an accounting scandal and is now planning 7,800 job cuts and restructuring businesses that include televisions, personal computers and home appliances.
The figure would eclipse the firm's largest net loss to date of ¥398.8 billion posted in the year through March 2009 in the aftermath of the global financial crisis.
"I will take the leadership so Toshiba will start anew as a company that can gain public trust," President Masashi Muromachi said at a news conference.