Japan's Toshiba said on Thursday it will cut up to 4,000 jobs domestically as the industrial conglomerate accelerates restructuring under new ownership. From a report: Toshiba delisted in December due to a $13 billion takeover by a consortium led by private equity firm Japan Industrial Partners, capping a decade of scandal and upheaval. The consortium's efforts to engineer a turnaround at Toshiba are seen as a test for private equity in Japan, which used to be seen as "hagetaka" or vultures due to its rapacious reputation. The restructuring amounts to up to 6% of Toshiba's domestic workforce. The company also said it would relocate office functions from central Tokyo to Kawasaki, west of the capital, and target an operating profit margin of 10% in three years.

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