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Toshiba to cut 6% of domestic workforce in big revamp after delisting

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Japan Inc won't fire their employee right?

-11 ( +3 / -14 )

Nearly impossible but they often offer early retirement packages that are sometimes very generous (2 years of salary).

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

1 ( +3 / -2 )

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

You mean illegally, right? Otherwise that's against the law.

1 ( +3 / -2 )

Man, just imagine how happy the Toshiba bigwigs must be now that they don't have to worry about those pesky shareholders (especially foreign shareholdes) or stricter compliance rules associated with being a listed company.

-5 ( +5 / -10 )

almakukacToday  07:50 am JST

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

You mean illegally, right? Otherwise that's against the law.

Not illegally. At least I know that the 3 largest banks (Mizuho, SMBC and MUFJ do it and they obviously would never break the law.

I know this seems crazy when you are not from Japan but it is what happens.

3 ( +3 / -0 )

This way of early retirement will take the cream off the team. Skilled resources will be first to raise hand take the early retirement perks and find a better place.

The challenge would be how to deal with who will stay more of which are hiding under the cream.

5 ( +5 / -0 )

Thia is not good news for any commutera who live along the lines which service Toshiba Offices.

Expect train delays.

2 ( +3 / -1 )

RakurakuToday  09:23 am JST

almakukacToday  07:50 am JST

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

You mean illegally, right? Otherwise that's against the law.

Not illegally. At least I know that the 3 largest banks (Mizuho, SMBC and MUFJ do it and they obviously would never break the law. 

I know this seems crazy when you are not from Japan but it is what happens

That is not correct as it would be illegal. You can check the average salary for those companies snd it steadily increases until the mandatory retirement age of 60.

What happens at 60, you can be rehired to your old position with a meager salary to work those inbetween years 60-65 before you can receive pension.

1 ( +2 / -1 )

Firing the most experienced and most willing to work Gen.X staff with a golden handshake into early retirement? That's in fact not the retirement for those people, but probably soon the complete retirement of Toshiba. lol

2 ( +4 / -2 )

Toshiba used to be a trusted brand that made great products… but its leadership failed to adapt. Sound familiar?

-3 ( +4 / -7 )

WeiWeiToday  01:14 pm JST

RakurakuToday  09:23 am JST

almakukacToday  07:50 am JST

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

You mean illegally, right? Otherwise that's against the law.

Not illegally. At least I know that the 3 largest banks (Mizuho, SMBC and MUFJ do it and they obviously would never break the law. 

I know this seems crazy when you are not from Japan but it is what happens

That is not correct as it would be illegal. You can check the average salary for those companies snd it steadily increases until the mandatory retirement age of 60.

What happens at 60, you can be rehired to your old position with a meager salary to work those inbetween years 60-65 before you can receive 

I am talking about the late forties to 60 years old period.

I am saying this because I know several people to which it happened and they told me it is the way the system works.

Please refer to the article below that explains this. You will see that after 50 the income actually drops except for executives.

https://toyokeizai.net/articles/-/709568?display=b

What you are talking about is an additional cut for people who want to continue to work from 60 to 65. They are rehired on one year renewable contract and again their salary is cut by an additional 30 % to 50%. compare to the salary they had when they reach 60. This is a second cut. maybe only for banks. I don’t know.

3 ( +3 / -0 )

WeiWeiToday  01:14 pm JST

RakurakuToday  09:23 am JST

almakukacToday  07:50 am JST

They also start to cut wages of employees who are not in senior management position when they reach their late forties to early fifties. The cut is progressive but can reach 30 % to 50% over the years!

You mean illegally, right? Otherwise that's against the law.

Not illegally. At least I know that the 3 largest banks (Mizuho, SMBC and MUFJ do it and they obviously would never break the law. 

I know this seems crazy when you are not from Japan but it is what happens

That is not correct as it would be illegal. You can check the average salary for those companies snd it steadily increases until the mandatory retirement age of 60.

What happens at 60, you can be rehired to your old position with a meager salary to work those inbetween years 60-65 before you can receive 

I am talking about the late forties to 60 years old period.

I am saying this because I know several people to which it happened and they told me it is the way the system works.

Please refer to the article below that explains this. You will see that after 50 the income actually drops except for executives.

https://toyokeizai.net/articles/-/709568?display=b

What you are talking about is an additional cut for people who want to continue to work from 60 to 65. They are rehired on one year renewable contract and again their salary is cut by an additional 30 % to 50%. compare to the salary they had when they reach 60. This is a second cut. maybe only for banks. I don’t know.

2 ( +2 / -0 )

In my prior company they had a very generous early retirement for over 50 but surprising to me, most did not want to take it and rather wanted to coast to 65 even if demoted.

2 ( +2 / -0 )

"...in its first major revamp plan for turning its business around after going private late last year."

They'll never turn it around unless they've cut the old codgers in charge.

-2 ( +1 / -3 )

So what are those 50+ years old people going to do?? Is not like they can find a job quick. Most of them worked for their entire life on the same company, they don't know how to do anything else. Plus at 50, you still have at least 15 years of work career. In Japan it is impossible to retire so early. The pansion is by far THE WORST from ALL developed countries in the world.

0 ( +0 / -0 )

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