Travel agency JTB posts largest 1st-half net loss; to cut 6,500 jobs

this is a big reason why the Japanese economy is deflationary and why the people have a "deflationary mindset." If you expect to receive less, you will expect lower prices in the future.

You have somewhat to sympathize because the rich folks of 20th century gambled all Japanese wealth on ridiculous bubbles. The 1990s one is the most devastating one ever, and will be surpassed by 2020s soon. Japan ran out of opportunities and wealth to make itself into a consumer economy and a technological/economic independent nation from the US. When China woke up, Japan is simply f_u_cked from the start. It begun around 2008.

Lay off in Japan? They said it can't be happened.

I am quite surprised that Japan will introduce the concept of "firing" or "lay-off" in the coming years. Finally, Japan has been neoliberalized and Americanized.

They push “ packages “ down the throats of travellors and bully airlines and hotel to accept their ultra low payments or else. The sooner JTB goes bankrupt the better and good travel agencies will be free of a decade long bully

Not just in Japan, all major travel agencies in the world will go bankrupt soon. Thanks to Covid-19 and technological advances that encourage solo travelers.

But,but...?! I thought the tax funded wealth transfer corporate welfare subsidy GoTo was going to help these companies to stay afloat to save jobs?

Think of the incredible bad management at JTB. For decades they have been prioritised by all federal and local governments for all travel bookings at not even competitive prices. Currently money is thrown at them for the go to campaign for no good reason and they have had a quasi monopoly until H.I.S. Managed to break it.

they have always been over staffed, never shown any commercial spirit or creative business acumen.

They push “ packages “ down the throats of travellors and bully airlines and hotel to accept their ultra low payments or else. The sooner JTB goes bankrupt the better and good travel agencies will be free of a decade long bully

Sorry for those employees who lost jobs and those on 30% cuts.

Unfortunately pausing go-to isnt going to help them

No mention of "lay offs," but that's the Japanese media for you.

"2,800 in Japan and 3,700 overseas."

I wonder if the people overseas will be laid off while their Japanese counterparts will be offering early retirement?

cutting employees' annual salaries by 30 percent on average

this is a big reason why the Japanese economy is deflationary and why the people have a "deflationary mindset." If you expect to receive less, you will expect lower prices in the future.

to cut 6,500 jobs

Lay off in Japan? They said it can't be happened.