Needing to “overhaul” its photocopying business, the Japanese company has revealed it will be cutting 10,000 jobs at its Xerox joint venture.
As Reuters reports, Fujifilm Holdings has announced that it will be cutting 10,000 jobs worldwide, explaining that “it needed to overhaul the photocopying business amid a tough market environment.”
Fujifilm also revealed it would “book restructuring costs of ¥49 billion ($450.95 million/€359.2 million) in the current fiscal year, lowering its operating profit forecast for the year to ¥130 billion ($1.18 billion/€953 million) from a previous ¥185 billion outlook ($1.68 billion/€1.356 billion).”
This restructuring “would lower annual costs by ¥50 billion ($455 million/€366.5 million) from the year ending March 2020.”
