Over 3,000 employees of Toshiba Corp's group companies in Japan have applied for its early retirement program as part of the company's turnaround plans, sources familiar with the matter said Friday.
The number represents about 5 percent of the domestic workforce at the Toshiba group, which is trying to rebuild itself after going private late last year in a 2 trillion yen buyout from a consortium led by Japan Industrial Partners Inc.
As part of the efforts, the troubled conglomerate said in May it will slash up to 6 percent of its workforce in Japan, or 4,000 jobs, by offering staff early retirement packages.
The applicants are expected to leave their companies by the end of November and receive their retirement payments as well as assistance in finding a new job, the sources said.
In addition, several hundred employees are scheduled to be reassigned to growth areas such as the infrastructure business to optimize the use of its human resources and its headquarters in Tokyo will be consolidated into another one in the city of Kawasaki, near the capital, they said.
Toshiba had over 65,000 employees in its group firms in Japan as of the end of September. The company is expected to post losses related to the restructuring in the year ending March.
Toshiba, which had been suffering from the aftermath of a spate of problems in the 2010s ranging from an accounting scandal to massive losses at its U.S. nuclear arm, delisted in December last year to avoid increasing intervention from activist shareholders.
© KYODO
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sakurasuki
Senior staffs are the costliest while at the same is the less productive, especially in Japan society where hierarchy really matter, so that's a right move. Hope other Japanese corporate follow that
151E
Although called "early retirement" such programs are available to all employees, and not limited to senior staff. Through repeated interviews, management usually encourage low performers to take the package, although anyone is free to do so.
bo
Great news ,these oldies can now work at the conbini
DanteKH
Why so much hate for older persons, which are the most experienced??
Not all of them are in top leading position, where is all this hate from posters coming from?
ebisen
I like posts from foreigners here, working themselves who knows what kind of menial jobs, complaining about senior staff of Toshiba :) .