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...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes