Japan Post to slash up to 10,000 jobs

Japan Post Group and its labour union will start talks on reviewing its workers and it may cut as many as 10,000 jobs, equal to 5% of its workforce, the Nikkei business daily reported. The postal service unit garners a large part of its revenue through fees paid by the banking unit and another financial group company, Japan Post Insurance Co., via sales of their products through some 24,000 post offices nationwide. The financial business has suffered from lack of investment opportunities amid the low interest-rate environment and a scandal involving inappropriate sales practice at Jap...