Japan's Toshiba to cut 7,000 jobs over five years
Japanese laptops-to-nuclear conglomerate Toshiba on Thursday announced plans to cut 7,000 jobs, or 5% of the workforce, as part of a new five-year business strategy. The 143-year-old company is also liquidating its British nuclear power unit and selling its US liquefied natural gas (LNG) business. Toshiba's shares surged 12.7% to close near two-year highs after the announcement.