Japanese printing vendor Ricoh has announced that it plans to slash its Dutch headcount by 220 employees to reduce costs for the region.
Almost all functions involved in the workforce reduction are administrative according to Ricoh, with marketing, delivery and fulfilment, finance, HR and facilities departments being affected. The layoffs are expected to be carried out in the first quarter of 2017.
Through reducing its headcount, Ricoh claims that it expects its Netherlands branch to return to profit within the next two years.
Translated from the original Dutch, CEO of Ricoh Netherlands Raphaël Zaccardi said: "The measures announced are designed to [help Ricoh] operate in a rapidly changing market, recreate a successful client focus and achieve sustained, profitable growth."
"We need to strengthen the competitiveness of Ricoh [and] operate more efficiently in all areas. At the same time, we must reduce our costs and streamline every part of our business. Our customers can rely on our unchanged high level of service and thanks to our innovative solutions, continue to develop their business and grow."
Headquartered in Tokyo, Ricoh claims to operate in 200 countries. Global revenues for its financial year ending 31 March 2016 reached 2.21 trillion yen (€17.89bn).