Toshiba warns of $4.5B fiscal loss, sets job cuts

TOKYO: Scandal-hit conglomerate Toshiba warned Monday it expects to post a record annual loss of $4.5 billion and slash thousands of jobs, as shares in the firm plunged nearly 10 percent.

In a statement right after the close of trading, the company said it will cut 6,800 positions in its lifestyle business by introducing early retirement programmes and repositioning personnel, as well as carry out other structural reforms.