After initially projecting a dismal JPY 280B net loss for the year ended March 31, 2009, Japanese electronics conglomerate Toshiba Corp. now expects a staggering JPY 350B loss, the biggest loss in the company’s 70-year history.
Toshiba hopes the global economy will turn around soon and spur demand for its semi-conductor chips, but in the mean time, the company will have to continue scaling back production and capital spending on its operations, and also slash another 3900 temporary jobs.
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