18,635 Workers Offered Early Retirement in Japan in 2020

Economy

Tokyo, Jan. 21 (Jiji Press)--Listed companies in Japan offered voluntary early retirement to at least 18,635 employees in 2020, marking the highest level in 11 years, Tokyo Shoko Research Ltd. said Thursday.

The number of companies that made public voluntary retirement offers stood at 93, 2.6 times the previous year's level, the private credit research agency said.

Efforts to trim workforces were especially evident in sectors impacted by the novel coronavirus crisis, such as the apparel industry.

The number of employees offered voluntary early retirement reflects the 80 companies that disclosed details of their programs.

Hitachi Metals Ltd. <5486>, a unit of electronics and machinery giant Hitachi Ltd. <6501>, had the largest voluntary early retirement scheme, covering 1,030 workers.

[Copyright The Jiji Press, Ltd.]

Jiji Press