Olympus to cut 2,500 jobs

Tokyo: Japanese camera and medical equipment maker Olympus Corp is planning to lay off about 2,500 employees in overseas factories, Xinhua reported.

[caption id="attachment_326906" align="alignleft" width="380" caption="Japanese camera and medical equipment maker Olympus Corp is planning to lay off about 2,500 employees in overseas factories. Reuters"][/caption]

The company is considering to consolidate its factories in China, Vietnam and the US, and to reform the underperforming digital camera business.

The details of Olympus' redundancy plan will be released in June. The job cut will involve six percent of its total 40,000 employees.

The company said it was going to strengthen its medical equipment and industrial machinery operations to enhance profitability.

IANS