Medtech company Olympus announced a corporate restructuring plan that it said will result in significant job cuts.
The company said it will implement a "global organizational transformation to align structure and resources with its strategic priorities." It expects these changes to yield approximately 24 billion yen (approximately $156 million) in run rate savings and a net reduction of about 2,000 positions in the global workforce.
“Today marks a pivotal moment for Olympus,” said Olympus CEO Bob White in a statement. “We are building on our industry-leading installed base of endoscopy systems to move beyond hardware toward a future defined by intelligent, integrated care. By simplifying our organization, we are enhancing agility and making bold investments in the next generation of medical technology. Guided by our strong Purpose and Core Values, Olympus is committed to setting new standards in endoscopy-enabled care and delivering better care for millions of patients around the world.”
The company is targeting 5% year-on-year revenue growth by fiscal year 2029, annual 100 basis-point growth from fiscal year 2026, more than 10% earnings per share compound annual growth rate, and continuous improvement in free cash flow.
Olympus also announced several leadership changes:
- Keith Boettiger, currently Corporate Officer and Co-head of the Gastrointestinal Solutions Division, will be appointed Executive Officer and Gastrointestinal Solutions Division Head, effective April 1, 2026. He will succeed Frank Drewalowski, who will transition to Senior Advisor to the Chief Executive Officer, supporting Olympus’ strategic priorities.
- Yasuo Takeuchi will step down as Representative Executive Officer, Executive Chairperson and ESG Officer at the end of March 2026, concluding over four decades of service. Takeuchi, who served as President and CEO beginning in 2019, led Olympus’ transformation into a pure-play MedTech company and cultivated its global Purpose and Core Values. Under his leadership, the company strengthened its governance, enhanced board diversity, and laid the foundation for Olympus’ next phase of growth as a global MedTech leader.
