The Australian Financial Review is today reporting that Canon Australia is making 100 jobs redundant as it looks to shrink its workforce by around 10 per cent. The restructure is expected to be completed by the end of calendar 2014 and will mostly affect the Japanese subsidiary’s Ryde headquarters.
The paper reports that Canon made a post-tax profit of $7.55 million in 2013 off revenues of $756.5 million. AFR journo Simon Evans quotes a Canon spokesperson sort-of confirming the restructure:
Like every business, Canon Australia needs to find ways to become more product and efficient while continuing to meet the needs of our customers.