Epson Planning to Reduce Overseas Workforce

According to Bloomberg News, Seiko Epson of Japan is planning to reduce its overseas workforce and consolidate production sites in an effort to cut costs, citing an interview of Epson CEO Yasunori Ogawa byJapan’s Kyodo News.

Epson is said to be planning to shut down its semiconductor production hub in Singapore in 2027, and move some operations to Myanmar and Indonesia.

The company is also aiming to collaborate with Rapidus Corp., which wants to build next-generation semiconductor computer chips in Japan

Epson isn’t planning to cut jobs in Japan, but its CEO didn’t say how many jobs would be affected overseas.

Epson had reported lower financial results for its latest quarter and fiscal year.

More Resources

• • June 2024: Epson to Quadruple Inkjet Print-Head Production
  • April 2024: Epson Reports Lower Fourth-Quarter and Full-Year Financial Results
  • February 2024: Improvement for Epson’s Latest Quarter, But Lowers Forecast
  • January 2024: Epson Invests in California 3D-Printer Company
  • December 2023: Epson Completes Construction of New Inkjet Print-Head Factory
  • October 2023: Epson Cites High Inflation for Another Challenging Quarter, Lowers Forecast