Olympus Corporation, under new CEO Bob White, plans to cut about 2,000 jobs and overhaul its operations for greater efficiency. The initiative comes five months after White assumed the role following the ouster of his predecessor in a drug scandal. The company targets 3% annual sales growth by fiscal 2027.
Tokyo-based medical devices maker Olympus is undergoing a major shake-up under its new chief executive, Bob White, following a challenging period that included the ouster of his predecessor amid a drug scandal. Five months into his role, White unveiled plans to eliminate about 2,000 jobs—roughly 7% of the global workforce—and restructure the company's region-centric operations to streamline functions and enhance productivity.
In an interview, White highlighted duplications "everywhere"—from finance and quality control to marketing and human resources—stemming from the regional setup. "We hadn’t globalized our core functions," he said. "We just had a lot of people doing really good work, but they were doing fragmented work."
The overhaul shifts Olympus to a leaner, divisional model, with a review of its supply chain aimed at cutting costs by ¥24 billion ($157 million). This restructuring targets 3% annual sales growth by fiscal 2027, addressing inefficiencies in manufacturing and technology sectors while bolstering corporate governance.