Earlier this year, it came to light that Toshiba had exaggerated its operating profits by $1.2 billion over the past six years. Now, it looks set to report a staggering $4.5 billion of losses—and cut 6,800 jobs as a result.
The BBC reports that those jobs are being lost in its consumer electronics division as part of a massive restructuring. Toshiba also plans to sell its TV and washing machine manufacturing plant in Indonesia, and is looking for external investment in its healthcare business.
Toshiba’s CEO and vice-chairman, Hisao Tanaka and Norio Sasaki respectively, resigned over the scandal. Sony has also already gobbled up part of the company in the last few months, buying its image sensor division for $155 million.