Jump Ship: Toshiba and Electronics Company

jump ship: Strapped for cash, it is expected the firm will soon be forced to sell off part of the family silver its key memory chip business, which accounts for around a quarter of its total annual revenue, according to The Japan Times. Toshiba has been stuck in tortuous negotiations over the sale of the unit, which could raise as much as 20 billion. Do you work for that' electronics company If so, come and work for us! screams the ad for Toyota. ; The mere fact Toshiba staff are apparently being urged to jump ship by rivals underscores the difficulties faced by the former industrial titan. Three parties have been vying for the prize a U.S.-South Korean consortium led by investment fund Bain Capital, Toshiba's chip factory partner Western Digital of the U.S., and Taiwan's Hon Hai Precision, better known as Foxconn. Selling the profitable chip division is seen as key to Toshiba's survival, as one of Japan's best-known firms battles to recover from multibillion-dollar losses at its U.S. nuclear operations. On Wednesday, Toshiba said it had signed a memorandum of understanding with the Bain consortium but that this did not prevent them from talking to others. (news.financializer.com). As reported in the news.