Toshiba to cut costs by $3.5 billion

Toshiba has announced that it will initiate measures to save itself $3.5 billion (330 billion Yen).

According to the Inquirer, these figures are ten per cent more than previously announced.

The announcement comes after it posted an operating loss of 250 billion Yen in the last financial year, due to the economic slowdown.

Although it is unclear how the vendor will reduce costs, this latest new follows April’s announcement of 3,900 job cuts at the firm.