Toshiba is cutting thousands of jobs following its accounting scandal

Earlier this year, it was discovered that Toshiba had exaggerated its operating profits by around $1.2 billion over the last six years, which not only resulted in both its CEO and vice-chairman being forced to resign from the company, but caused the company to suffer from a whopping $4.5 billion of losses. Toshiba has had to sell some of its assets in order to make up for these losses, such as the image sensor division it sold to Sony for $155 million, and this morning it announced that 6,800 employees would be losing their jobs in order to cut costs.