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Older employees to take pay cut About one in three major companies plan to reduce salaries by half or more for employees who choose to work after mandatory retirement, according to a Kyodo News survey. Fifteen of the 32 firms that were surveyed were willing to reveal the margin of decrease. Salaries will be lower but remain above 50 percent of the preretirement level at six companies, and decline below 50 percent at the rest. The survey was conducted late last month. The companies included Kajima Corp., Japan Airlines Corp., the Bank of Tokyo-Mitsubishi UFJ Ltd., East Japan Railway Co., Canon Inc., and Toyota Motor Corp.
The Japan Times Weekly: Nov. 11, 2006 |
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