business

Nearly 30% see bonuses fall this summer due to pandemic impact

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The spread of the novel coronavirus has depressed economic activity globally, affecting both manufacturers and non-manufacturers. In recent months, economist have pointed to the gap in the pace of recovery between manufacturers, benefiting from rising external demand in nations like China and the United States, and non-manufacturers still reeling as Japan is struggling to curb coronavirus infections.

As usual the distribution of misery also falls most heavily on those with precarious employment and dependent on wages, with little to none on those with capital and assets.

1 ( +4 / -3 )

At least they are getting a bonus. Not everyone who works gets one in Japan.

3 ( +4 / -1 )

At least they are getting a bonus. Not everyone who works gets one in Japan.

True. So cry me a river.

2 ( +3 / -1 )

For most, a "bonus" is not a bonus given for better work performance or high sales, etc, but rather determined by a percentage of your annual pay paid twice a year. For example: in June (1 month) in December (2 months).

In the above example, that would be your annual salary divided by 15 (incl. 3 month "bonus") instead of 12. What it means is you get less per month, outside of bonus months.

If bonuses are being "cut" that is paramount to a pay cut and it means many people won't be able to meet loan repayments etc since a lot of these payments are set up to come out of summer or winter "bonuses".

6 ( +7 / -1 )

Tora - Exactly.

I've discussed the same on this forum a number of times over the years.

Bonuses are simply theft in guise.

The company/employer keeps sizeable portions of a workers monthly salary to distribute as a "prize" once or twice a year.

Reducing the bonus is a direct cut to salary - which would be against labor laws in most cases.

And of course in these days of "casualization" of the workforce, bonuses are not paid to the majority of workers. Any news about bonuses to such workers results in deep sighs.

And the announcement on local news last week that our governor will receive a summer bonus of ¥3,500,000 - down on previous years, boo, hoo - twists the dagger deeper in the hearts of mere mortals.

A broken system.

6 ( +7 / -1 )

I gave out 2.75 (was shooting for 3) months of bonus to my employees. Hopefully, the same in winter.

To be honest, I'm not too sure about next year though.

-1 ( +0 / -1 )

Bonus, sounds good. But that is only the part of money they held back during the former monthly payments. Nothing more than a motivational bluff or psychological trick. And another advantage, not so much currently but in normal times, you could make use of interest rates or stock prices etc. for averaged half a year, playing with employee’s money around a bit, before it is paid out. Next another advantage, if the employee gets sick or disabled or dies, you spare quite a percentage of the former monthly salaries. And so on and on. But sure, feel very much thankful to be betrayed all the time, that’s a valid option too.

3 ( +3 / -0 )

Despite their bonuses decreasing, I bet none of the workers were spared having to work insanely long days.

2 ( +2 / -0 )

I don't give a rats asterix. I've been in Japan about 30 years and have never gotten a bonus.

2 ( +2 / -0 )

Bonus=$ paid for unpaid overtime work. Twisted psychological logic

2 ( +2 / -0 )

My ROI this year on an investment made 20

years ago has given me a 25 million yen bonus this year.

My message is do not rely on anyone but yourself…

0 ( +0 / -0 )

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