Amateur Photographer Magazine

Canon to 'cut' operating costs

Tuesday 19th August 2008

Chris Cheesman

Canon is to slash costs by £49m, around 20% more than expected, amid the 'tougher business environment', according to unconfirmed reports emerging from Japan.

'The company will reduce its sales, general and administration costs by ¥60 billion (around £293m),' according to Bloomberg.com, based on an article published by the Nikkei newspaper. This is ¥10 billion more than the firm had apparently intended to reduce its costs by.

Canon also intends to cut its planned research and development costs by ¥12 billion, says the report.

A spokesman for Canon's UK office told us that the firm was unable to comment on the report.

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