Konica Minolta Jumps on Plan to Cut 2,400 Jobs, Boost Profit
- Equipment maker sees $130 million profit gain via staff cuts
- Japanese copier makers eye alliances in shrinking market
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Shares of Konica Minolta Inc. jumped to a 10-month high on its plan to slash 2,400 jobs worldwide, part of an effort to boost profitability.
The maker of photocopiers and medical diagnostic imaging equipment said it is reducing headcount around the world over the next twelve months by increasing productivity through the use of generative artificial intelligence. The cuts are set to increase profit by ¥20 billion ($130 million) in the fiscal year starting April 2025, it said.