It’s been quite a week for Olympus as they announce a restructure involving 4,000 job losses, following a recent sharp decline in profits. Falling prices are blamed for Olympus’ loss-making camera division. Olympus shares fell by 3% following the announcement.

“It aims to reduce its global workforce by 4,000 employees to 10,000 by the end of September, mostly by suspending hiring at two Chinese plants. The move marks the first drastic restructuring in the digital camera industry to include consolidation of manufacturing facilities, the financial daily said.”

Website: Forbes.com - Japan’s Olympus to overhaul digital camera ops; to cut 4,000 jobs

Website: BusinessWeek Online - Olympus closing plants in Japan