Virus-hit Japanese companies turning to early retirement to cut costs

The number of Japanese companies introducing early retirement programs in the first 10 months of the year was more than double the level of the whole of the previous year amid the coronavirus pandemic, according to a survey by a research firm.A rapid drop in demand is pressing executives to quickly cut costs through reducing personnel, Tokyo Shoko Research said.Early retirement was offered by 72 listed companies to a total of around 14,000 employees as of Oct. 29, topping 35 companies and about 11,350 employees in the previous year, the credit research agency said. The figures compared with…READ FULL ARTICLE