{"id":32039,"date":"2025-11-12T15:22:22","date_gmt":"2025-11-12T15:22:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/32039\/"},"modified":"2025-11-12T15:22:22","modified_gmt":"2025-11-12T15:22:22","slug":"olympus-announces-2k-layoffs-what-it-means-for-lehigh-valley","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/32039\/","title":{"rendered":"Olympus announces 2K layoffs: What it means for Lehigh Valley"},"content":{"rendered":"

A global medical technology company plans to lay off 2,000 workers worldwide, according to Pennsylvania\u2019s Department of Labor and Industry<\/a>.<\/p>\n

Olympus Corp. of the Americas<\/a> announced the cuts in a news release<\/a> on Friday.<\/p>\n

The company opened its regional headquarters in 2006 in Upper Saucon Township\u2019s<\/a> Stabler Corporate Center and quickly cemented its place as one of the area\u2019s largest employers<\/a>. <\/p>\n

Olympus had more than 800 local employees in 2023. It also has a regional warehouse in Upper Macungie Township.<\/p>\n

The confirmed number of impacted employees was also announced this month in a Worker Adjustment and Retraining Act Notice <\/a>filed with the state department. By Wednesday morning, however, the notice was removed from the state department\u2019s website. <\/p>\n

It\u2019s unclear whether any employees at the regional sites will be impacted. An Olympus media spokesperson couldn\u2019t immediately be reached for more information Wednesday morning.<\/p>\n

Internationally, the Tokyo-based company has been in existence for a century. It partners with worldwide healthcare professionals to provide innovative solutions and services for early detection, diagnosis and minimally invasive treatments for patients. <\/p>\n

The company aims to improve patient outcomes by elevating the standard of care in targeted disease states. It unveiled a new corporate strategy<\/a>, also on Friday, to achieve its goal to become the leader in endoscopy-enabled care.<\/p>\n

Olympus representatives in the news release stated the company expects annual savings of about 24 billion yen ($156.6 million) from the job cuts, which will be implemented in fiscal years 2026 and 2027.<\/p>\n

Multiple published reports, including by medtechdive.com<\/a>, state the company is targeting revenue growth of 5% year over year by fiscal 2029, earnings per share of more than 10% on a compound annual basis and continuous improvement in free cash flow. <\/p>\n

The company will use capital to support innovation, dividends, share buybacks and mergers and acquisitions, according to the report.<\/p>\n

In its second-quarter earnings report,<\/a> also released Friday, Olympus reported a total revenue of $1.6 billion.<\/p>\n

Additionally, the job cuts and reorganization come shortly after a change in leadership at the company. CEO Bob White, <\/a>the former president of Medtronic\u2019s medical surgical business, joined Olympus in June. <\/p>\n

In 2023, Olympus Corp. of the Americas employed 5,500 across several locations in North and South America. <\/p>\n

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