Ricoh looking to downsize workforce by 2,000

September 12, 2024

Ricoh published a notice regarding the implementation of the voluntary retirement programme “Second Career Support Programme” in Japan Ricoh Company, Ltd.

The company announced that as part of the Corporate Value Improvement Project, it has decided to implement a voluntary retirement programme “Second Career Support Program” in Japan.

To build a business management structure befitting a digital services company, the company has been working on the Corporate Value Improvement Project since April 2023. Ricoh has explored challenges from multiple angles to enhance its corporate value. These efforts have included engaging with shareholders, investors, and analysts, and considering capital market perspectives.

The company recognises its biggest challenge is to improve profitability.

In transitioning to a digital services company, the company is overhauling its profit structure to better align with its business model. The project is being driven in four respects:

1) Acceleration of Office Services profit growth
2) Transformation of Headquarters,
3) Acceleration of the strategic selection and concentration of its business areas, and
4) Transformation of the Office Printing business structure.

To further accelerate the transformation, Ricoh said it is strengthening necessary skills and capabilities as a digital services company and optimising the personnel structure in each region in line with the changes in the business environment.

Along with the on-going overseas structural reforms, Ricoh said it newly implemented the “Second Career Support Programme” in Japan, to optimise workforce globally. With this programme, the company aims to optimise the headcount of approximately 1,000 people in Japan, within the company and Japan domestic group companies.

Ricoh said: “As a result, we expect to optimise the headcount of approximately 2,000 people in total globally. These measures are implemented in accordance with the labour laws, rules, and regulations of each region and country.

The resulting cost reduction effect is expected to be ¥9 billion ($63.07 million/ €57.24 million) in fiscal 2025.