Toshiba posts record losses
Japanese consumer electronics giant Toshiba has posted a record annual loss as the company has been cutting jobs to stay competitive in these tough times.
The company posted a 343.6 billion yen loss for the financial year ending in March this year.
This is a pretty bad performance compared to a profit of 127.4 billion yen in the previous year.
This also happens to be the worst performance for the company ever and their biggest loss in seven years.
Toshiba spoke about the expectations in the coming times: “Projections indicate that the business environment will remain in severe condition.”
The company added: “We want to improve our financial standing as quickly as possible so that we can focus on growth.”
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