Job losses announced by Ricoh
Japanese manufacturer Ricoh has said it will axe more than 10,000 jobs across the globe. The company, which has offices in Telford and Welingborough, said the cuts were a cost saving measure.
Ricoh employs about 110,000 people throughout the world. The company manufactures office equipment including copiers and cameras.
Shiro Kondo, president and chief executive of Ricoh, is reported as saying: "We have become a big company and need to re-engineer our corporate structure throughout to become more muscular.
"We have done very little pruning of unprofitable businesses, and we need to pull out of some."
The company has so far failed to return to full health after the recession, and reports suggest that the Japanese tsunami damaged the company's sales further.
In the UK, Ricoh has sales and training sites in Telford, Wellingborough and London.
The first round of global job cuts are expected to take place in March 2014.
