Pentax have announced 300 job cuts in an effort to compensate for losses in its digital imaging division, according to DigitalCameraInfo.

“After reviewing its fiscal year 2004 sales performance, PENTAX Corporation decided that, due to drastic and unforeseeable changes in our management environment, we could not achieve its initial financial objectives, even if all measures and options available were applied. Therefore, we have decided to make these revisions. Our basic management policy for the execution of this management plan, however, remains unchenged, with the slogan of “Growth and Expansion”. In our business activities, we will continue to pursue the reinforcement and expansion of our life care and optical component businesses. At the same time, we will take all measures needed to make our imaging systems business profitable as quickly as possible.”

Website: DigitalCameraInfo - Pentax Cutting Workforce By 300