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Toshiba warns of $4.5bn annual loss

  • Toshiba, whose activities range from laptops to TVs to nuclear energy, has said it will cut 6,800 jobs and will report a record $4.5bn annual loss as a part of its restructuring. According to media reports, the company will be cutting down on jobs in its consumer electronics division. News of the predicted losses resulted in shares in the company going down by nearly 10 percent.