14 DAY TRIAL // Like desktops, TVs have been selling less and less during the past several quarters, to the point where companies are cutting their losses. Toshiba is the latest to add its name to the list.
Sadly, as I've seen it happen too many times in the past, cutting losses means removing ongoing money drains, and that almost always translates into employees.
Toshiba has decided to cut 3,000 jobs, effectively cutting its TV division in half.
In fact, the company will be closing two of its TV manufacturing facilities and rely on third parties to handle 70% of its remaining production from now on.
4K will get most of the attention for a while, or at least until the TV business arm of Toshiba stops losing more money than it generates. Things should come to a head in three-six months or so.