Olympus to Cut 2,700 Jobs, Consider Alliances to Boost Capital
Olympus Corp. (7733) will cut about 7 percent of its workforce and may consider an alliance as the Japanese camera maker seeks to recover after writing down assets following a $1.7 billion accounting-fraud scandal. The 2,700 jobs are to be eliminated by March 2014, the company said in a statement in Tokyo today. Olympus is considering capital-alliance offers from domestic companies and other options that may include selling shares in the market, President Hiroyuki Sasa told reporters. Olympus will increase its focus on the imaging, medical and life-sciences businesses as the company aims to boost its capital ratio ...
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