April 26, 2020 / 1:54 AM / a month ago

Japan's MUFG bank plans more staff cuts, totalling 8,000 by 2023 - Yomiuri

TOKYO, April 26 (Reuters) - The banking arm of Mitsubishi UFJ Financial Group Inc is planning to reduce staffing levels by another 2,000 people by fiscal 2023, the Yomiuri daily reported on Sunday, highlighting its struggle to maintain profits amid ultra-low interest rates.

Japan’s largest lender by assets had announced in 2017 that it expected 6,000 job losses through attrition by fiscal 2023. The additional 2,000 would result from a reduction in the number of new recruits, the paper said. (Reporting by Takashi Umekawa; Editing by Kim Coghill)

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