TOKYO (Reuters) – The banking arm of Mitsubishi UFJ Financial Group Inc <8306.T>
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)
