At Olympus in Hamburg, a total of 234 full-time positions have been eliminated from the workforce plan since April 1, 2026. All of the medical technology company’s locations in the city are affected. The reduction is part of a global cost-cutting program, announced by Olympus in November 2025, which encompasses approximately 2,000 positions. The trigger is a new global operating model with which the company aims to streamline structures, simplify processes, and reduce costs. In Hamburg, the measure affects almost eight percent of the workforce, as around 3,000 people work for Olympus there. At the same time, the risk of redundancies remains if vacant positions and a voluntary redundancy program are insufficient.
All Hamburg-based companies are affected by the job cuts
The reductions are spread across three companies. At Olympus Europa SE & Co. KG, 90 positions will be eliminated. At Olympus Winter & Ibe GmbH, 116 positions will be cut. An additional 28 positions will be eliminated at Olympus Deutschland GmbH. Thus, the restructuring affects the entire Hamburg site network, while the company classifies the local measure as part of a global restructuring.
Olympus confirms organizational changes in Hamburg but has not publicly disclosed the exact number of job cuts there. The company explains: “As part of this restructuring, Olympus is reducing its workforce by approximately 2,000 reels worldwide – mostly effective April 1st.” The company also points to an operating model designed to reduce organizational complexity. This is particularly significant because Olympus had previously anticipated a stable workforce in Hamburg in a survey of employers.
Voluntary program first, but layoffs not ruled out
According to the company, the initial reductions are intended to be achieved without compulsory redundancies. Olympus states: “Olympus aims to implement this measure without compulsory redundancies.” The plan is to eliminate open positions and offer a voluntary program. This program is intended to allow employees to leave amicably through severance agreements, while the company simultaneously aims to reach its target number of employees.
However, internal documents show that this does not end the pressure on the workforce. If the voluntary redundancy program and the elimination of vacant positions prove insufficient, the next step will be redundancies. In such cases, a social selection process will be implemented, which, according to the documents, can also include employees from other departments. Olympus emphasizes that the criteria for this scenario have been agreed upon with the employee representatives, but this leaves many employees uncertain.
Social Plan, Severance Pay, and Dispute Over Communication
Social plans for the three Hamburg-based companies date back to 2024 and 2025. These regulations are now to be applied. According to available information, the maximum severance payment is €200,000. Employees who leave via a termination agreement under the voluntary redundancy program can receive an additional 35 percent on the calculated amount. This raises the maximum to €270,000, which is intended to make voluntary departure more attractive for some employees.
However, the accounts of how the information was disseminated are contradictory. Olympus states that the works councils were informed about the planned changes last year. Negotiations regarding the personnel measures took place until December, and the workforce has been informed several times since November. However, employees claim that they only received information about the job cuts in Europe at the beginning of 2026. This is fueling the unease, while apparently hardly anyone wants to comment publicly.
Olympus Aims to Save Millions, Shares Under Pressure
The job cuts are just one part of a larger corporate restructuring. Olympus also plans to reorganize departments, change reporting lines, and redistribute the responsibilities of individual positions. With this reorganization, the company aims to save approximately 24 billion yen annually, equivalent to about 132 million euros. The cost-cutting measures are therefore not only aimed at personnel but also at the entire organizational structure.
The restructuring was initially well received on the stock market. However, sentiment later shifted after Olympus significantly lowered its forecast for operating profit for the fiscal year ending March 31, 2026, in February. The share price subsequently fell sharply. On March 13, the stock was trading at just over seven euros. One day before the lowered forecast, it had reached 10.84 euros. This further intensified the pressure on the company, while the consequences are now being felt most acutely by employees in Hamburg.