Uniqlo parent Fast Retailing Co Ltd said on Wednesday it would raise wages by as much as 40 per cent, in the clearest sign yet that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.The move by the casual clothing giant may serve as a wake-up call for Japan
Uniqlo parent Fast Retailing Co Ltd said on Wednesday it would raise wages by as much as 40 per cent, in the clearest sign yet that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.
"If companies expect other companies to increase wages, they will be more inclined to raise wages themselves or risk being left behind, particularly in the contest to attract young talent.""Although we would like to refrain from commenting on the efforts of individual companies ... we welcome reports of companies that have announced aggressive wage hike policies.
"We believe that the best way to address the current increase of prices is to realise continuous wage increases.
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Uniqlo owner Fast Retailing to raise wages as much as 40%TOKYO: Uniqlo clothing chain operator Fast Retailing said on Wednesday (Jan 11) it will raise wages by as much as 40 per cent, focusing on its home market of Japan where salaries have remained comparatively low. The move comes ahead of spring labour negotiations in Japan, where wage hikes have lagged behin
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