Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kansai Electric to Cut 500 Jobs in Next 3 Years for Cost Saving

Dec. 27 (Bloomberg) -- Kansai Electric Power Co., the utility that supplies Japan’s second-biggest metropolitan area, plans to cut about 500 jobs in the three years ending March 2016 to reduce costs.

The plan was revealed at a meeting yesterday with the government panel reviewing the utility’s request to raise prices. The job cuts will help increase sales per employee by 24 percent by the end of the period compared with the year ended March 2000, according to the plan posted on the trade and industry ministry’s website.

The utility, which had a record first-half loss of 117 billion yen ($1.4 billion), submitted the request last month to raise rates for households by 11.88 percent to cover the increased costs of running its thermal power plants.

Kansai Electric is operating just two of its 11 nuclear reactors after the Fukushima disaster last year prompted shutdowns of nuclear plants and forced utilities to raise imports of fuel for gas, oil and coal-fired generators.

To contact the reporter on this story: Yuji Okada in Tokyo at yokada6@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.