Japan Tobacco Cuts 1,600 Jobs in Buyouts, Closes 4 Factories
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Japan Tobacco Inc. is cutting 1,600 jobs and closing four factories in the country as part of its plan to boost domestic competitiveness and profitability.
The job cuts, or about 18 percent of the company’s workforce, will be made through a voluntary retirement program that will be offered to eligible employees in the Japanese domestic tobacco business and corporate functions, it said in a statement today. Most of these staff will leave the company at the end of March 2015 with more expected the year after.