Japan's Ricoh to cut 10,000 jobs

Ricoh, which has good presence in India, is looking at ways to rejuvenate its business after being impacted by the 2008 global financial crisis as well as the recent earthquake in Japan.

Embarking on an extensive restructuring, the company today said it would cut as many as 10,000 jobs by March, 2014. The Japanese entity had around 1,09,000 employees at the end of March 31, 2011.

Specific details about the restructuring were not available and it was not clear whether job cuts would happen in India.

The plans were disclosed in an investor presentation.

Ricoh India Ltd, majority owned by Ricoh Co, Japan, employs over 720 people, according to its website.

Ricoh said it would relocate about 15,000 employees into growth areas in the business as well as review non-profitable areas, sales system and also streamline redundant operations, among others.

The Japanese entity had consolidated net sales of 1,942 billion yen at the end of March 31, 2011.

Ricoh is mainly into the area of imaging solutions such as digital plain paper copiers, fax machines and scanners, among others.

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