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To: DJBEINO who wrote (3880)	9/1/1998 2:12:00 PM
From: DJBEINO	Read Replies (2) \| Respond to of 9582

Toshiba Confirms Major Reorg. Plans, Will Cut 2000 Jobs (1:55 p.m. EDT, 9/1/98) By Jack Robertson Toshiba Corp. today confirmed the Japanese conglomerate within the next several years is making plans to split into as many as six to eight separate companies under a central holding company. The firm previously had indicated that setting up a holding company was one potential option being studied to revitalize Toshiba's scattered business lines, now spread over 15 different divisions. There was new urgency this summer to restructure the corporation after Toshiba reported a $27 million loss for the six months ended March 31, 1997. For the entire fiscal year ending at the same time Toshiba profits dropped 89 percent to only $5 million. This week Toshiba took the first step in its reorganization by spinning out its air conditioning appliance division to merge it into a new joint venture with United Technologies Corp. Carrier group. There was no indication yet on any spinoff of the semiconductor division or information systems group. The company also announced it was reducing employment by 2000 workers by the end of the fiscal year March 31, 1999. The reduction will be through attrition and early retirements. ebnews.com