Uniqlo parent company to boost Japan wages up to 40%

  • 📰 eNCA
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Uniqlo's parent company said Wednesday it would raise the wages of thousands of its employees in Japan by up to 40 percent to help it become more competitive globally.

The salary bump will apply to around 8,400 full-time employees out of the 56,000 working for parent company Fast Retailing in Japan.

The increases will vary across staff categories, with newly arrived employees likely to see a bump of less than 20 percent, while those in managerial roles or with more experience could earn up to 40 percent more a year. In a statement, Fast Retailing said it hoped the increased pay packets would lead to the"growth of individuals" and, in turn,"even greater global competitiveness".The pay rises, along with other adjustments to the salaries of part-time workers announced last year, will see Fast Retailing's personnel costs in Japan rise about 15 percent.

The move comes with Japanese inflation at 3.7 percent in November, the highest figure since 1981, and follows calls from Prime Minister Fumio Kishida for higher wages. But Fast Retailing did not cite the Japanese economic situation in announcing the pay rises, saying instead that salaries would now be based on"globally aligned" criteria.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These former market darlings were down over 40% last yearOn the JSE last year seven former market darlings – all of which had market caps in the billions (during '22) – saw decreases of over 40%. Many were midcaps. Moneyweb investment
Source: Moneyweb - 🏆 5. / 77 Read more »