Honda Lifts Retirement Age as Japan Inc. Copes With Aging
- Carmaker plans shake-up to job terms for next fiscal year
- Company to implement work-from-home, partial-workday systems
Honda Raises Retirement Age to 65
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Honda Motor Co. plans to shake up job terms next fiscal year and lift its retirement age by five years to 65, making the carmaker one of Japan Inc.’s biggest companies to take action in coping with the nation’s aging demographics.
Other proposed changes applying to about 40,000 employees at Honda and five of its group companies include a shift to child care and nursing allowances, rather than family allowances, spokesman Ben Nakamura said Monday. Honda also plans to introduce a work-from-home and partial-workday system, and adopt a salary and bonus structure that widens the pay gap between higher and lower performers.