Ricoh is a large imaging company, heavy in industrial and pffice copiers / printers.
Financially, they do not have a lot of cash, since the copier business is no longer a cash cow.
Here is a June 29 2011 press release. I wonder if they actually expect Pentax to turn the company around? I expect that their cameras may be marketed under the Pentax name, since it is a more reconizable name for Photography products than Ricoh.
Announcement regarding Call for Voluntary Early Retirement
Please be informed that at the Group Management Committee (a decision-making body of Executive Officers) held on June 29, 2011, Ricoh Co. Ltd. decided to put out a call to personnel for voluntary early retirement as follows.
1. Reasons for The Proposal
Against a background of increasingly severe global competition, the Ricoh Group needs to take firm steps to improve profitability, including cutting fixed costs. Under the current midterm business plan, one of the principal initiatives is HR optimization, whereby those who would seek opportunities outside the group would be supported with an early retirement package as well as outplacement assistance when looking for a new career elsewhere.
2. Outline of Call for Voluntary Early Retirement
Number of personnel that may elect voluntary early retirement:
Approx. 1,600 among Ricoh Co. Ltd. and Ricoh group companies in Japan
July 1, 2011 to October 31, 2011
Date of retirement:
August 1,2011 to November 30, 2011
3. Future Outlook
Expenses, such as special retirement payments, that arise from this voluntary early retirement program are projected to total approximately 23 billion yen among Ricoh Co. Ltd. and Ricoh group companies in Japan.
In addition to this program, Ricoh Group, on a global basis (including in Japan), will continue to implement measures to optimize its human resources such as by decreasing the number of personnel (through natural attrition on a global basis, including in Japan, whereby new personnel will not be hired to replenish retiring personnel and prior hiring decisions will be reexamined), undertaking internally businesses that were out-sourced to external parties and relocating personnel, such that the personnel headcount would be reduced in the aggregate by approximately 10,000 persons on a group-wide basis.
.June 29, 2011
Ricoh Company, Ltd