Toshiba Aims for Job Security Despite Selling Company

Last week it was disclosed that although Toshiba Corp. is looking to sell its chip business, it is hoping to strike a deal where the company would not lose any employees in the process, reported The Japan Times.

The No. 2 largest producer of NAND flash memory chips, used in smartphones, Toshiba hopes to avoid major job cuts by finding a deal in which the buyer would agree to keeping all current employees at the company.

It had already been announced that the company would not be selling any stake before the fiscal year ends, on March 31. According to The Japan Times, this ensures a negative net worth at the end of the year for the company.

Earlier this month the company announced plans to build an advanced semiconductor fabrication facility called the Fab 6 at the Yokkaichi Operations in Mie prefecture, Japan, according to a press release. The plant will be for the production of the Toshiba 3D Flash memory, known as BiCS FLASH™.

The first part of the project is forecast to be complete by the summer of 2018. The construction would also include a new R&D center, built at the main memory headquarters of the company as well, with an anticipated completion date of December 2017.

Toshiba hopes to strike a deal that holds on to its employees when it sells its chip business.