Toshiba to halve staff in lossmaking TV division, shut two of its three factories

It's not as if Toshiba's TV division has been totally silent recently, but it apparently hasn't been making enough noise to justify the continued employment of its full, 6,000-strong workforce. Although it's not quite ready to give up, the Japanese manufacturer is scaling back its TV operation heavily: losing half of its staff globally and closing two of its three TV factories in favor of more outsourced production. The cuts are intended help Toshiba meet its target of $101 million in cost savings and the company hopes its TV division will return to profitability this year -- but as you'd expect, at a much smaller scale than it once had.