Home World News Konica Minolta announces layoffs of 2,400 employees, stock price hits highest level in nearly a year

Konica Minolta announces layoffs of 2,400 employees, stock price hits highest level in nearly a year

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Konica Minolta announces layoffs of 2,400 employees, stock price hits highest level in nearly a year

JapanMajor business computer manufacturer Konica Minolta announced on the 4th that the globalretrenchment2,400 people were hired to improve profitability, causing the company’s share price to reach its highest level in almost a year.

Bloomberg News reported that Konica Minolta said on the 4th that it will reduce the number of global employees in the next 12 months and is introducing generativeartificial intelligence(AI) to improve profitability; This wave of layoffs is expected to increase the company’s profits by 20 billion yen (US$130 million) in the fiscal year starting April 2025. In the future, the company will focus its resources on profitability.

As of the first half of last year, the company’s global workforce totaled approximately 40,000; The news prompted the company’s share price to rise 5.9% on the 4th, reaching its highest level since May last year.

Konica Minolta’s predecessor company was first established in 1873. It was originally an innovative company in cameras and photographic materials, and later diversified into the business of photocopiers and medical care equipment.

The company’s share price is still well below its 2000 high, having fallen by more than 50% in the past five years alone. However, it has recovered some of its losses in the last few months. Before the sharp rise on the 4th, it was up 21% this year.

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