Ex-Olympus CEO Wins $15 Million Settlement, Company Announces Job Cuts

By Yuri Kageyama


TOKYO (AP) -- Former Olympus Corp. Chief Executive Michael Woodford will receive 10 million pounds (1.2 billion yen, $15.4 million) in a settlement over his dismissal from the Japanese camera and medical equipment maker. Olympus also announced it will cut nearly 3,000 jobs.