Fujifilm Cuts 5,000 Jobs

Bloomberg reported that Fujifilm will eliminate 5,000 jobs and shift some production to China from Japan.

“Fuji Photo’s plan symbolizes an end to the film camera era,” said Hiroshi Chano, who helps oversee $6.7 billion at Yasuda Asset Management Co. in Tokyo. “The digitalization of the camera industry occurred at much faster pace than I expected. Reorganization will be a painful process for Fuji Photo.”

By taking these restructuring steps, we hope to reduce fixed costs and secure stabile profits in our imaging solutions division,” the Tokyo-based company said in the statement. “

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