Japanese camera maker Olympus Corp. (OCPNY.PK) announced a new medium-term vision for the five years from fiscal year ending March 2013, based on the new management structure established on April 20, 2012, with "Back to Basics" as the slogan. The company aims to regain the credibility of its stakeholders via. "Back to Basics" and targets to return to the basic values it had at founding and make a fresh start in order to regain the credibility of its stakeholders, build itself anew, and create new corporate value.
To enhance the Group's earning capability, the company would significantly reduce COGS and SG&A expenses. Regarding the personnel optimization, Olympus would cut the number of employees by nearly 2,700, or about 7% of global workforce as of March 31, 2012, by March 31, 2014, by restructuring units, global production sites, etc., in addition to improving the efficiency of the indirect workforce at headquarters and in each business domain.
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by RTT Staff Writer
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