Nikon Set To Lay Off An Additional 20% of its International Workforce
Back in June, we reported on how Nikon had laid off 700 of its workers following its full 2020 financial report. Well, it looks like things haven’t improved much 5 months later. A report from Nikkei this morning stated that Nikon will be cutting more than 2,000 of its workers outside of Japan by March 2022, and move some of its production to Thailand! These changes come as not much of a surprise given the state of the global economy over the last year due to the coronavirus pandemic, as well the advances in smartphones and more mobile technologies.
[Related Reading: Nikon Lays Off 700 Workers Following Their Recent 2020 Financial Report]
The Nikkei report showed a loss of over $183 Million in Q2 with camera and lens sales down 29%-70% depending on the sector! (Check DP review’s breakdown here for more details), but the bottom line here is Nikon’s goal is to reduce its operating costs by more than 80 billion yen (approx $758,708,000) to keep things functioning. Cameras will remain the core of its business as Nikon plans to keep focusing on manufacturing LiDAR-based sensors and equipment, but as the market continues to shrink, they’ll shift their attention and efforts into the markets that are still buying; the professional and hobbyist.
Currently, Nikon still has 3 new Mirrorless systems scheduled to be revealed and launched by the 2nd half of this coming year (possibly including the recently announced Z6ii and Z7ii), so we’ll have to wait and see if there are any further cuts and announcements over the next few months.