Ricoh layoffs

[Copyman59]

I had a friend get laid off from Ricoh this week. He said it was across the board thru the U.S. Anyone else hear of anything?

[rthonpm]

Print volume is down overall from office occupancy being lower and the move toward distributed workflows. To the accountants service is seen as more of a loss on the balance sheet: the competition is still thick enough that service rates stay relatively low while parts get more expensive and complex.

Good luck to any of our colleagues getting affected by layoffs.

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[SalesServiceGuy]

... the same thing happened in Canada when Pitney Bowes was in the copier business. Things could be going well but if you are on the wrong side of an excel spreadsheet, you are suddenly unemployed.

There was a lot of pent up demand to acquire new copiers during and immediately after COVID. That replacement cycle has now largely been fulfilled, the equipment is more reliable, print volumes are down and remote service is more of a reality. Wholesale prices cannot go much lower and there are not enough quality salespeople to increase demand.

The first place OEMs go to is to reduce expenses and that usually starts with reducing headcounts.

[BillyCarpenter]

I've noticed that lately I'm getting a lot more cash customers. Or buying on 90-days with no interest. Interest rates are way up. No one wants to borrow money if they can avoid it.