Ricoh Group in Japan Announces Voluntary Retirement Plan to Transform

TapTechNews September 12th news, Ricoh Group of Japan announced today the implementation of a voluntary retirement plan. As part of a broader strategy to transform into a digital services company, the plan aims to reduce approximately 1,000 employees in Japan and about 2,000 employees globally by March next year. This scale is equivalent to about 3% of its total number of employees.

Ricoh Group said that this plan is part of the Ricoh Enterprise Value Improvement Project, aiming to improve profitability and align its business model with the evolving digital environment.

The company expects the one-time cost of this plan in fiscal year 2024 to be 16 billion Japanese yen (TapTechNews note: currently about 802 million Chinese yuan), and it is expected to save 9 billion Japanese yen (currently about 451 million Chinese yuan) in cost in fiscal year 2025.