Konica Minolta to cut 4,500 jobs

TOKYO: Japanese camera film and copier maker Konica Minolta Holdings Inc said that it would cut its group work force by 4,500 by March 2006 to about 33,800 as part of an effort to boost earnings to levels at larger rivals such as Canon Inc.

Konica Minolta was created earlier in August through the merger of camera and office gear makers Konica Corp and Minolta Co to enter the top ranks of office equipment makers.

The company, announcing a mid-term business plan, said it would aim for group operating profit of 145 billion yen ($1.23 billion) for the 2005/06 business year on sales of 1.3 trillion yen.

© Reuters