Olympus to cut 2,500 jobs, sell equity stake: media
TOKYO (Reuters) - Japan's Olympus Corp, hit by a $1.7 billion fraud scandal, plans to shed 2,500 workers and sell an equity stake to either Sony Corp or Panasonic Corp in a bid to bolster its finances, local media reported Wednesday. Olympus, the world's leading maker of diagnostic endoscopes, is struggling to recover from an accounting fraud uncovered last year by its then CEO, Michael Woodford. It was forced to correct years of accounts, leaving its balance sheet badly weakened. ...
Source: news.yahoo.com
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