Published in News
Olympus slashes jobs
2,500 to go
Japan's Olympus plans to cut 2,500 jobs, or roughly 7 percent of its workforce.
The Nikkei business daily the medical equipment maker needed restructures its business to strengthen its finances following a scandal that halved its market value. The company nearly went under when its new British CEO discovered Olympus had been cooking the books for years.
Olympus responded by firing the whistleblower for failing to understand the Japanese way of doing things. Which apparently was bow and look the other way. Well now it looks like 2,500 people will pay the cost of bowing and looking the other way.