Dai-ichi Life Planning 5 Pct Pay Hike

Economy

Tokyo, Jan. 25 (Jiji Press)--Dai-ichi Life Insurance Co. plans to implement pay scale hikes for its roughly 50,000 employees in fiscal 2023, it was learned Wednesday.

The major Japanese life insurer will raise wages by 5 pct on average in the year from April, informed sources said.

It is the firm's first pay scale hike since 1995 for employees on in-house duties, totaling about 10,000 at present. The company will also conduct regular salary increases.

The move, which reflects recent rises in inflation, will be formalized after talks with the labor union at the company.

Dai-ichi Life raised last July salary levels for the first five years of employment for its some 40,000 sales staff. The upcoming plan includes changing the salary scheme for employees in their sixth year and beyond.

[Copyright The Jiji Press, Ltd.]

Jiji Press