Japanese employees should expect lower bonuses this winter, according to a report by Japan Business Federation. It will be the first time in the last three years when the average winter bonus at major Japanese companies will fall, the organization said.
The average bonus will decline by 3.99 percent to Y781,396. The decline rate is the third sharpest ever recorded, the federation said.
The reasons for the sharp decline are, in addition to last year’s natural disasters which still affect the economy, the current challenges of a strong yen and the global recession.
The Japan Business Federation published the data after conducting a survey among 83 companies listed on the First Section of the Tokyo Stock Exchange, Kyodo reported.
The surveyed companies have already agreed winter bonuses with their respective labor unions.