[Imaging Resource] Olympus settles with ex-CEO; braces for job cuts, restructuring

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[/URL]More than seven months after the abrupt dismissal of [URL="http://www.imaging-resource.com/NEWS/1319652704.html"]whistleblower Michael Woodford (http://www.olympusamerica.com/), Japan's Olympus Corp. has reached a settlement with its former president and CEO, reports Associated Press correspondent Yuri Kageyama. The last-minute deal comes right as Woodford's claim of unfair dismissal was to be heard (http://www.independent.co.uk/news/business/news/woodfood-may-settle-with-olympus-over-unfair-dismissal-7799802.html) before an employment tribunal in London. The AP article, redistributed by Bloomberg Businessweek (http://www.businessweek.com/ap/2012-05/D9V305300.htm), notes that terms of the deal haven't been made public, however Woodford is widely rumored (http://www.independent.co.uk/news/business/news/troubled-olympus-set-to-cut-2500-jobs-and-sell-off-a-stake-7805047.html) to have accepted a £10m settlement. Near-simultaneously, Japanese media is reporting that Olympus...
(read more) (http://www.imaging-resource.com/news/2012/05/31/olympus-settles-with-ex-ceo-braces-for-job-cuts-restructuring)

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