Uniqlo operator to raise annual salaries in Japan by up to 40%

Uniqlo operator Fast Retailing Co. said Wednesday it will raise the annual salaries of its workers in Japan by up to 40 percent in March in an effort to narrow the remuneration gap with its employees overseas and increase the company's global competitiveness.The casual clothing chain operator joins other large companies moving to hike wages amid public concern over prices continuing to rise and bite Japanese households' pocketbooks.Due to the revision of its remuneration system covering its 8,400 full-time employees, Fast Retailing's domestic labor costs are expected to increase by around 1…READ FULL ARTICLE