Olympus layoffs?

[Keith]

John Hermanson posted this on his facebook page a couple of hours ago ... is this to do with Olympus in the US? I can't seem to find any info on the internet!

Very sad what's happening at Olympus. This week they laid off all their remaining technicians and Customer Support staff. My best wishes to those who are now out of work.

 

[ferider]

http://www.osa-opn.org/home/industry/2012/june/olympus_announces_layoffs_in_vision_statement

Olympus Announces Layoffs in Vision Statement

June 15, 2012—Camera maker Olympus Corporation has announced layoffs of 2,700 of its global workers as part of its five-year medium-term vision, starting at the end of March 2013. With the theme "Back to Basics," the company promises a strategic return to its roots and a new management structure, expressing "regret for our past misconduct."

To achieve profitable growth in its imaging business, the statement promised to focus on developing conventional digital single-lens reflex cameras, mirrorless interchangeable-lens cameras and high-end compact cameras; and restructuring existing manufacturing functions, selecting and concentrating advertising, and reducing selling, general and administrative expenses through "personnel optimization." The goal is to turn an operating income margin of -8 percent as of March 2012 to a target margin of 5 percent by March 2017.

The reduction of seven percent of its workforce is expected to be complete by 31 March 2014. The vision further states plans to eliminate and consolidate 40 percent of its 30 global plants by March 2015.

 

[Keith]

Thanks Roland.

So ... 'trimming the fat' so to speak!

 

[ferider]

I hate that term, Keith, when in the end the real goal is only increased shareholder value. Think of people like John.

 

[Keith]

It's all about shareholder value these days it seems.

 

[zuiko85]

I've always liked Olympus photographic products, at least up to about 1990. They then lost their way in my opinion, not able to keep up with emerging auto focus technology. Their digital offerings are just OK, not as innovative as the Pen F and OM series. They have fought an uphill battle against the Canon and Nikon juggernaut and internal malfeasance. I don't think the photographic division can survive. I hope I'm wrong.

 

[Mackinaw]

Last year's Olympus scandal just about broke the company. Not to justify layoffs, but there was some serious talk that the camera division of Olympus would go out of business, or be sold. It sounds like they're trying to right the ship by reorganizing their operations. We'll see if it works.

Jim B. (somebody who bought a new OM-D last fall)

 

[burancap]

I hate to be a pooper, but is anyone else confused by the incredible array of cameras currently offered by them?

It is like they just ground out whatever they felt like. A brilliant one or two, for sure ... it just feels like they have lost their way.

BTW, I own/owned their products and I genuinely hope they can rediscover what made them great.

 

[Keith]

With Fuji offering upgrades and new models every time you blink I have to wonder where they will go with the OMD ... which is a bit of a sleeper. I had one and it was an amazing camera but the controls drove me crazy and I ultimately wasn't comfortable with the Micro four thirds format.

Keeping pace with the competition will be difficult for them ... difficult for any manufacurer in fact.

 

[Frontman]

Olympus, like Sony, Panasonic, Sharp, and a dozen others have been bleeding red ink for years. The amount of money they has been losing on a monthly basis is incredible. The laying-off of workers has no effect at all on share value. Either the companies cut costs how they can, and try to keep running, or they continue as they have been, and go bankrupt.

Executives and workers in Japan are not paid as much as their counterparts in America and Europe, and Japanese companies lay off workers only as a last resort.

With competition from other parts of Asia, Japan is reliving the same fate that American electronics manufacturers faced in the 70's and 80's.

 

[Bill58]

You're absolutely right, but it doesn't help when the somebody also steals tens of millions.

 

[maitani]

All Companys need to stay competitive an lean to a certain extent.

Olympus was almost dead before the launch of omd, I think this model was the proof they can survive between the big when it s done (about ) right.

They spent the last 10 years with lot of energy and reasoning how good the fourthirds format is. After a brilliant start ( E-1),it only went downhill, they couldn t keep with the competition,

E-p1 was a decent (although rushed) camera, which took about 3 generations and 3 years to mature, panasonic did the lenswork right and the system has matured now, but in a too long period imo.

All the pen derivations which followed twice a year were embarrassing even for the hardest fanbase, hard even for dealers to keep track of them, also they were able to take backsteps feature wise within models ( dont get me started) in order to squeeze the camera in strategy chart.

They never managed to listen to the clients, so to say the opposite of fuji. Their stubbornness is unique in the business.

Even the hardest fanbase has moved on, omd does well in attracting new to the brand buyers, but much of the fanbase out of the OM camp is gone for good.

The financial scandal broke their neck, thd omd? A glimmer of hope, depends what they do next,,

The layoff probably the last possibility to save the company, i feel sorry for the people which will lose the job caused by a mismanagement seen rarely nowdays.

Rant off

Maitani

 

[btgc]

mismanagement seen rarely nowdays.

Rarely. Really?

 

[John Bragg]

Such a shame. I always liked the OM system but there has been a sliding away from the glory days of that. They need another Maitani Yoshihisa to head up their design team. His originality and vision made some incredibly functional cameras that also looked great. Rare indeed !

 

[jarski]

no amount of Maitani's in design department would help if management board is populated by crooked fat cats. maybe Olympus was lucky to get this wakeup call.

 

[Ronald M]

Too many similar products will kill a company.

 

[kaiwasoyokaze]

Too many similar products will kill a company.

*cough*lumix*cough*

 

[DNG]

Well, they did dump the E-PM line...

Olympus
E-PL, E-P, OMD.

Panasonic
G, GF, GH

 

[kdemas]

Well, they did dump the E-PM line...

Olympus
E-PL, E-P, OMD.

Panasonic'
G, GF, GH

I think the Pany GX line is still kicking.

 

[DNG]

I think the Pany GX line is still kicking.

opps forgot.... Yes GX, not GF...

But, the big kicker is both O & P have a ton of P/S... too many, IMO...They should slim those down also... I know, those may be the B*B of their Photo Divisions.