Ricoh to Cut 2,000 Jobs Amid Plummeting Printer Sales.

Ricoh to Cut 2,000 Jobs Amid Plummeting Printer Sales.
Japanese imaging device giant Ricoh revealed plans last week to reduce its workforce by 2,000 employees.

The company has labeled this initiative as a “Career Support Program.” According to the announcement, “The Company recognizes its primary challenge is enhancing profitability.”

Ricoh’s strategy involves four key reforms: a major focus on expanding office services, accelerating strategic business concentration, restructuring its headquarters, and transforming its office printing business. Notably, the printer division has been spun off into a joint venture with Toshiba Tec under the name Etria.

This “Career Support Program” is expected to impact staff in office equipment sales and maintenance, resulting in a restructuring cost of 16 billion yen (approximately $112 million).

Ricoh is part of a broader trend struggling with declining print volumes; HP recently reported a 20 percent decrease in the number of printed pages since the COVID-19 pandemic. Before the pandemic, IDC had already observed a 14 percent drop in print volumes.