Toshiba announced on May 16 a layoff of up to 4,000 employees in Japan by November this year as part of its revitalization plan.

The company delisted in December last year after accepting a buyout by a domestic investment fund to increase its management freedom by distancing itself from so-called “activist shareholders” overseas and is proceeding with business reconstruction.

According to its revival plan, Toshiba plans to cut back its domestic workforce of 66,000 by six percent by November through early retirement preferential systems and others.

The company plans to relocate its headquarters from Minato-ku, Tokyo to Kawasaki, Kanagawa Prefecture in the first half of next fiscal year.

Toshiba will also integrate its four subsidiaries, which are currently divided into four businesses such as power and infrastructure and aim to streamline as “One Toshiba.”

The company plans to concentrate its management resources on growth areas such as power semiconductors and quantum technology.