Ricoh to Launch Voluntary Retirement Program, Expects 16 Billion Yen One-Time Cost

MT Newswires Live

2024/09/13

Ricoh (TYO:7752), a digital services firm, disclosed the implementation of a voluntary retirement program under its Second Career Support Program as part of ongoing efforts to improve profitability, according to a Thursday filing on the Tokyo Stock Exchange.

The move is aimed at optimizing its workforce in Japan and aligns with the company's Corporate Value Improvement Project, launched in April 2023.

The program will target nearly 1,000 employees in Japan and the global headcount reduction is 2,000. Applications will be accepted between Oct. 1 and Feb. 28, 2025, with retirements effective March 31, 2025.

Ricoh expects to incur a one-time cost of 16 billion yen in fiscal 2024 due to early retirement benefits. The company forecasts cost savings of 9 billion yen in fiscal 2025.

Price (JPY): $1522.00, Change: $-12, Percent Change: -0.78%

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