OTHER NEWS : Majority of Japanese Companies Are Cutting Jobs

More than 60% of Japan’s largest companies have either cut or plan to cut workers from their payrolls to combat the effects of recession, according to a Kyodo News Service survey published in the Mainichi Daily News. The survey, which polled 100 large companies, found that 57 had already begun reducing staff levels and five others intended to do so. While most are simply cutting annual hiring quotas, many were also laying off temporary workers and asking employees to retire early. The report also cites estimates that corporate Japan is paying wages to 2.35 million redundant employees.