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Mizuho Securities To Cut Jobs, Pay
Mizuho Securities is shedding 10 percent of its workforce in Japan.
Mizuho Securities is shedding 10 percent of its workforce in Japan, Financial Times reports. The Mizuho Financial Group unit will approach some 300 people from this month for a voluntary retirement program and shed 400 more employees by the end of the fiscal year through March, adds The Wall Street Journal.
The firm is also looking to slash its costs by 15 percent in the fourth quarter. Mizuho’s chairman and president will see a 25 per cent salary cut for the next six months, while board members would see their pay shrink 10 percent to 20 percent.
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