TapTechNews August 21, according to Nikkei News, on August 20, KonicaMinolta announced that the office equipment factory located in Jiangsu Province, China will end production in the first half of 2025, and about 1400 employees of this factory (as of the end of March) will have their contracts terminated.
It is reported that KonicaMinolta's healthcare-related business is struggling and its financial situation is deteriorating. In this case, it intends to carry out structural reform on the most profitable office equipment business to improve its profitability. In the fiscal year 2024 ending March 2025, KonicaMinolta will suffer a loss of 6 billion yen (TapTechNews note: currently about 293 million yuan) due to the end of production of this factory.
The factory of KonicaMinolta located in Jiangsu produces multi-function all-in-one machines, digital printing presses for commercial printing and other products. At the same time, another office equipment factory located in Guangdong will continue to produce.
In April this year, KonicaMinolta announced that as the paper printing demand in the industry declines, the company plans to shift the focus of development to new business lines. Before April next year, the company will lay off 2400 people in various departments globally. It should be noted that the factory employees who end production this time are not included in these 2400 people, meaning that the number of reductions by the company will increase.
Public information shows that KonicaMinolta mainly produces commercial printers, copiers, all-in-one machines and supplies thin film raw materials for products such as smartphones. Currently, the company's digital workplace business department accounts for more than 50% of the total sales.
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Due to 'weakening printing demand in the industry', KonicaMinolta announces 2400 layoffs to reduce costs and increase efficiency