Toshiba wants to separate into four activities

Toshiba intends to allocate from its structure, four key activities, to protect them from the negative effect of the bankruptcy division of the Westinghouse Electric involved in nuclear energy.

The separation into an independent company is waiting for the units engaged in the production of infrastructure systems and power systems (one of the purposes Toshiba — save large contracts with these entities), as well as units associated with information technology and production of electronic devices.

As a result of the reorganization of approximately 24000 employees out of a total staff of 30,000 will be transferred to the new company. Administration and R & d specialists will remain in the state of the parent company Toshiba.

The shareholders will Express their opinion on the separation plan at its meeting in late June. In the case of approval of the plan of the first three units will be allocated in the independent company in July, and the fourth in October.

Source: CDR info

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