Tokio Marine to Scale Back Discretionary Work System

Economy

Tokyo, July 29 (Jiji Press)--Tokio Marine & Nichido Fire Insurance Co. is planning to scale back its discretionary work system, in which employees are paid regardless of the number of hours they work, it has been learned.

Currently, some 2,000 out of a total of 17,000 employees at the company work under the discretionary system.

Of them, some 1,500, who are in charge of insurance payments and marketing for insurance agents, will be excluded from the discretionary work system and covered again by a regular salary system, informed sources said.

The plan has already been proposed to the company's labor union, and will be introduced if the union gives its consent to the change.

Tokio Marine introduced the discretionary work system in 2006 for deputy section chiefs and deputy branch heads, the highest-ranking non-managerial employees.

[Copyright The Jiji Press, Ltd.]

Jiji Press