The ailing print industry is losing another of its historical, leading players.
Nikkei Asia broke the news,notingthat Ricoh is in a very tight spot.
Ricoh’s job cuts will run until the end of its current fiscal year in March 2025.
The company will offer around 1,000 Japanese workers an early retirement plan.
The one-time cost for the entire restructuring effort amounts to 16 billion yen ($112 million).
It expects the staff reduction to boost annual profits by 9 billion yen over the next fiscal year.
Ricoh isn’t leaving the printing industry, though.
Ricoh transferred around 8,400 employees to the new firm, which will develop and manufacture new office printers.
Etria will remain unaffected by Ricoh’s latest job cuts.
However, as HP CEO Enrique Lores recently highlighted, printed page levels havedwindledlower than before the Covid lockdowns.
