Wednesday, May 25, 2011

Ricoh to cut 10,000 jobs, sees $1.7 bln profit boost

Japanese office equipment maker Ricoh Co said on Thursday it plans to cut headcount by 10,000 from its workforce of around 109,000.

The move will help it boost operating profit by about 140 billion yen ($1.7 billion) by March 2014, the company said in a statement.

Ricoh also said it sees restructuring costs coming to about 60 billion yen in the two years to March 2013. ($1 = 82.000 Japanese Yen) (Reporting byMayumi Negishi; Editing by Edwina Gibbs)