The monthly starting salaries for university graduates will be raised from the current 255,000 to 300,000 yen (around 2100 euros) at the group.
(Photo: Reuters)
Tokyo The operating group of the Japanese fashion giant Uniqlo is making headlines with a strong salary increase for its employees in Japan. The remuneration would be increased by up to 40 percent in March, the group announced on Wednesday, which also sparked joy in the government.
He hopes other companies will follow suit and raise wages “to the maximum”, government spokesman Hirokazu Matsuno said. With the salary increase, the Fast Retailing group says it wants to reduce the wage gap between its employees abroad and increase the company’s global competitiveness.
In view of the rapid aging of Japanese society as a result of too few births, there is already an acute shortage of workers in some sectors. According to experts, this should accelerate wage increases for young and talented workers.
At the same time, wage increases could lead to underperforming companies being left behind and restructuring, Japanese Internet commentators said.
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The monthly starting salaries for university graduates will be raised from the current 255,000 to 300,000 yen (around 2100 euros) at the group. The monthly salary of new store managers will be 390,000 yen, up 100,000 yen. According to the information, the annual earnings of other employees will also be increased by up to 40 percent.
The Japanese government has asked companies to increase wages because of the rising cost of living. The move by the global apparel giant is expected to affect the spring’s annual wage negotiations (Shunto) between employers and employees across Japan.
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