Summer bonuses at Japan firms expected to fall by 6.4% due to coronavirus

Bonuses at Japanese companies are expected to fall this summer by an average of 6.4 percent from a year earlier, the largest decline in 11 years, reflecting a sharp drop in earnings in the wake of the new coronavirus pandemic, a think tank said Friday.The Japan Research Institute estimated the average bonus at companies with five or more employees at 357,000 yen ($3,300).It would be the third consecutive year of decline in summer bonuses, following falls of 0.1 percent and 0.4 percent in the two previous years, and the sharpest drop since the summer of 2009, when the average payment decreas…READ FULL ARTICLE