TOKYO: Japan’s Toshiba Corp. said Friday that it has completed rightsizing its workforce by shedding or reassigning some 3,500 workers.

In May, the electronics and machinery maker announced a plan to shed up to 4,000 jobs by the end of November mainly through an early voluntary retirement program for employees aged 50 or over.

Special retirement allowances and re-employment support were offered to the voluntary retirees, who are believed to have accounted for the bulk of the 3,500 workers.

Besides the job cut, Toshiba conducted personnel redeployments to fields including energy. The company is rushing to carry out business reconstruction by reallocating its resources to growing areas.

Toshiba fell into a business crisis after an accounting scandal was uncovered in 2015 and later remained mired in turmoil, including a dispute with foreign investment funds that became shareholders.

Looking to end the confusion, Toshiba went private last year by coming under the wing of a consortium led by investment fund Japan Industrial Partners Inc.

JIJI Press