Center Valley, Pennsylvania-based Olympus Corporation of the Americas, the iconic Japanese manufacturer of optics and reprographics products, has announced that it will be implementing a new corporate strategy designed to improve profit margins and moving the company toward the medical industry. The immediate impact of the restructuring will be felt by the headquarters IT staff, many of whom will be laid off.
According to a company spokesperson, “Toward the goal of improving efficiencies and reducing costs of our current IT system, we will be transitioning responsibility to a third-party provider for operational IT functions. In Center Valley, this will unfortunately translate into the elimination of some IT positions.”
Not so coincidentally, we find that the changes are being driven by the San Francisco, California-based activist investment company ValueAct Capital whose partner has been added to the Olympus Board.
Olympus President and CEO Yasuo Takeuchi noted, “Our new strategy is the most significant change we have undertaken in decades, and it is designed to strengthen our position as a world leader in the medtech industry.
Rumors abound that the company may shutter its under-producing imaging business could be phased out over the next year. A cautionary tale for employees working in the affected division?
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?