London, June 9 (IANS) Olympus, the Japanese camera and medical equipment maker, will cut 2,700 jobs in next five years, it was reported here.
The company lost 49 billion yen ($618 mn) in the year to the end of March, but forecasts a profit of 7 billion yen in 2012-13, BBC reported.
Olympus, the world's biggest maker of endoscopic cameras used by surgeons, is suffering with relatively high costs and debts.
It will reduce its global workforce by 7 percent by 2014, and cut the number of its factories around the world from 30 to 18 by 2015.
The company said in a statement that it wanted to "restore its financial health".
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