Pentax Plans On Handing Pink Slip To 300 Workers: Tokyo Stock Exchange - Pentax recently told its investors that over the next two years 300 jobs will be cut to compensate for losses in its digital imaging division. Pentax announced that the employee cuts as well as other reduction measures will save the camera manufacturer $1.6 million by the spring of 2007 to the Tokyo Stock Exchange.
On the Pentax website the corporation explained their problems, “After reviewing its fiscal year 2004 sales performance, Pentax Corporation decided that, due to drastic and unforeseeable changes in our management environment, we could not achieve its initial financial objectives, even if all measures and options available were applied. Therefore, we have decided to make these revisions.”
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