MUFG Bank to cut 8,000 jobs by March 2024, up from initial plan

MUFG Bank, the banking unit of Mitsubishi UFJ Financial Group Inc., plans to slash its domestic workforce by around 8,000 employees by March 2024, expanding from its earlier planned reduction of 6,000, a source close to the matter said Sunday.The bank will implement the increased labor force reduction, equal to 20 percent of its some 40,000 employees as of fiscal 2017, through natural attrition. It expects to see retirements of workers who were hired in large numbers during Japan's asset-inflating bubble economy of the late 1980s, and also plans to cut back on hiring.MUFG Bank aims to step …READ FULL ARTICLE