Olympus scales back, shifts focus to turn around fortunes

Beleaguered camera maker Olympus vows to shed around 2,700 jobs and heavily restructure its business following a major accounting scandal. That works out that around seven percent of its total global workforce will be cut, with Olympus also aiming to sell unused property and close its Philippines plant over the next two years. The Japanese manufacture will also refocus on profitable imaging, medical and life-science departments -- presumably fields that would-be suitor Panasonic's also interested in.

Update: Or perhaps not.

Olympus scales back, shifts focus to turn around fortunes originally appeared on Engadget on Fri, 08 Jun 2012 03:36:00 EST. Please see our terms for use of feeds.