Konica Minolta restructuring

Konica Minolta has announced a global restructuring plan as it looks to generate sustainable growth.

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Konica Minolta has announced a global restructuring plan as it looks to generate sustainable growth.

In what it called an “optimisation” of its headcount, the Japan-based firm will lay off around 2,400 employees in the current financial year (FY24) that began on 1 April 2024. This, it said, would result in a ¥20 billion ($200 million) uptick in business contribution profit (gross profit minus SG&A) in FY25.

Konica Minolta added that it would invest in areas such as generative AI to improve employee productivity. It also referred to accelerating “business selection and concentration” over the next 12 months, perhaps suggesting that some strategic decisions are in the pipeline.

The OEM’s Office unit has been earmarked as a “maintaining profit business” (as opposed to a growth area). While recent quarterly results showed an improvement on the bottom line, printer hardware units fell in the double digits year on year.

Tokyo, Japan