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Konica Minolta to Reduce Global Workforce; Hints at New Partnerships

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Konica Minolta of Tokyo, Japan, reported today that it will reduce its global workforce in order to focus on increasing  profits. Its current workforce is approximately 40,000 employees

The company said it’s decided to implement global structural reforms in order to achieve its Medium-term Business Plan goals (for fiscal-year  2023 through 2025), and for sustainable growth beyond 2025. 

The Medium-term Business Plan has three strategies:  business selection and concentration, reallocation of resources to strengthening businesses; structural reform implementation to reinforce profit foundation; and reinforcement of business management system. 

Workforce Reduction and AI

Konica Minolta says it will use generative artificial intelligence (AI) to improve productivity – “even for tasks that require some judgement,” according to CEO Toshimitsu Taiko.

It will also reduce its workforce globally by around 2,400 people, including regular and non-regular employees, which it will implement during the next 12 months. 

As a result, it expects its profit for fiscal-year  2025 to increase by around 20 billion yen ($131.92 million).

One-time expenses associated with the global structural reforms will be recorded during the company’s fiscal-year 2024 and is also expected to be approximately 20 billion yen ($131.92 million).

At a news conference, CEO Taiko also hinted that the company may be open to partnerships regarding its MFP operations: “We will also pursue the possibility of alliances in areas where there are no competitive clashes.”

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