Ricoh USA to Reduce Office Space, Relocate

According to the Philadelphia Business Journal, Ricoh USA will reduce by half the amount of office space (107,000 square feet) it currently occupies at its headquarters in Malvern, Pennsylvania, when it relocates to a new location at 300 Eagleview Boulevard in Exton, Pennsylvania, a location where its offices will occupy 45,971 square feet.

A Ricoh spokesperson stated that no job losses are expected with the move, which it expects to occur in August. Ricoh employs about 1,300 people in Pennsylvania.

Several years ago, Ricoh USA relocated its headquarters from West Caldwell, New Jersey, to the Malvern location – once the home of IKON Office Solutions, a Ricoh acquisition.

In March 2018, Ricoh announced an operating loss of $1.5 billion, much of it due to declining sales in North America.  After reporting that loss, Ricoh announced in April 2018 the appointment of Joji Tokunaga as president and chief executive officer of Ricoh for its Americas’ region – a move that came after the company’s announcement in February 2017 that it was eliminating the position of a chairman and CEO for Ricoh Americas, which resulted in the departure of Ricoh Americas Chairman and CEO Martin Brodigan.

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