Canon U.S.A., the industry’s largest manufacturer, has reduced the employee ranks at its Melville, New York, headquarters by more than 100 as part of a reorganization initiative. The company confirmed the news regarding the layoffs, first reported by Long Island publication Newsday earlier this week.
While Canon would not confirm the exact figure, the newspaper estimated the headcount reduction to be between 100 and 150. That places the overall percentage between 9% and 14% of the headquarter’s workforce. Newsday cited Suffolk County documents, which stated the company’s employee total at 1,081 as of last December.
In a statement, Canon noted the reorganization was intended to help streamline operations and promote efficiency, “in order to help achieve the necessary levels of performance that are required to meet our targets and remain competitive in a fast-changing industry. These decisions, which were not made lightly, will support the company’s ability to make decisions in a faster and more agile way.
“Canon is steadfast in its dedication to long-term sustainability and providing strong support for our customers and our partners.”
Despite the workforce reduction, parent company Canon Inc.’s Q2 financials projected the organization is on track for a fourth consecutive year of sales and profit growth. In its second-quarter 2024 results, the company projected a 2024 operating profit of 299.8 billion yen ($1.97B U.S.) for its printing unit and an overall operating profit of 465 billion yen ($3.021B U.S.). Profit projections for Canon U.S.A. were not available.
In January, Isao “Sammy” Kobayashi was named president and CEO of Canon U.S.A., succeeding Kazuto “Kevin” Ogawa, who took a new position within Canon Inc. in Japan following five years at the helm.
