Toshiba to Shutter Three Factories in Japan, Puts Blame on Yen
Toshiba to Shutter Three Factories in Japan, Puts Blame on Yen
Posted 12/01/2011 at 10:25am
| by Paul Lilly
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Toshiba has been implementing multiples measures to restructure and strengthen its discrete, analog, and imaging IC businesses in Japan, and has made the decision to close three of its six chip facilities in the region. Those operations will be consolidated into the three left standing, which will include the transfer of roughly 1,700 workers.
Production will be phased out during the first half fiscal year of 2012, with full closures expected to be complete by September of next year. According to a Bloomberg report, Toshiba's ability to compete has been negatively impacted by a stronger yen, which reached a post-World War II record last month.
Toshiba said it is also cutting production at some of its semiconductor facilities to cope with the current economic slowdown and fall in demand for consumer productions, in particular PCs and TVs in Europe and the U.S.
Image Credit: Flickr childorian
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