Nikon cuts 700 jobs in Asia after poor financial results

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Nikon has cut a total of 700 jobs in Asia. The decline in the number of employees is related to a structural reform of the digital camera division. It has been going badly for some time and partly due to the corona crisis, the losses are also large.

Nikon has announced in an online briefing that it is saying goodbye to 700 factory employees; 500 in Thailand and 200 in Laos, Nikkei writes. That would equate to a 10 percent headcount reduction for each location. The manufacturer said earlier this month that it expected “extraordinary losses”.

That has come true and the results are even more negative than expected. In the previous fiscal year, which ended at the end of March 2019, operating profit was still 82.6 billion yen or 693 million euros, but that has fallen to 6.7 billion yen or 56.2 in the current closed fiscal year. million euros. Turnover fell from EUR 5.94 billion to EUR 4.96 billion.

Sales were down in all business units from the previous fiscal year, except for the Semiconductor Lithography business. Nikon attributes this to the corona crisis. The turnover of the camera part decreased by 587 million euros to approximately 1.9 billion euros, a decrease of 23.7 percent. Nikon attributes this to the shrinking camera market and the delay in releasing the new products due to the impact of Covid-19.

Nikon released the Z7 and Z6 mirrorless cameras in the summer of 2018. Despite new firmware that has improved autofocus, these cameras and the associated investments have not yet delivered what Nikon probably hoped. In April, Nikon released its high-end D6 SLR camera. The question is whether that camera will score highly, partly because the criticism sounds that this camera can be regarded as an upgraded D5.

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