Job Cuts Surge as Japanese Companies Rebalance Aging Workforce

A wave of voluntary and early retirement programs in Japan is on track to hit a four-year high, as companies from Panasonic Holdings Corp. to Japan Display Inc. try to balance an aging workforce with the need to boost competitiveness.

In all, 11,045 employees were targeted for early retirement at publicly listed companies this year as of Nov. 10 — the highest since 2021, according to data from Tokyo Shoko Research Ltd. More than 90% of those employees work for companies listed on the Tokyo Stock Exchange’s Prime Market, particularly in the electric equipment, food, metal products and machinery sectors.