Tepco aiming to cut 1,000 jobs via voluntary redundancy

Tokyo Electric power Co. is looking to shed 1,000 jobs through a voluntary redundancy program to boost efficiency and improve earnings, sources revealed Saturday. Tepco will shortly propose the idea to its labor union, the sources said. It would be the first program of its kind implemented by the utility. Tpeco’s existing business plan approved by the Japanese governent in May 2012, calls for slashing 3,600 jobs in its parent group to reduce the workforce to 36,000 by the end of March. (Japamtimes.co.jp)

They are trying to drop more than 1,000 jobs via voluntary retirements by the second half of 2014 as it seeks to win more financial aid to clean up its crippled Fukushima nuclear plant. Tepco is working on a reorganization plan to fend off more drastic proposals, including a possible bankruptcy in return for a publicly funded clean-up and shut down of its Fukushima reactors. The government has agreed to assist Tepco with crippled Fukushima nuclear power plant especially with the 1,000 tanks of radiated water. Tepco wants to secure 500 billion yen in funding from banks by the end of the year. (tribune.com.pk)


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