Japans three major banking groups have unveiled plans for large-scale restructuring programs to streamline their operations. With the expanded use of artificial intelligence and other technology, they are seeking to eliminate work equivalent to a combined total of 33,000 jobs. Although the banks say the redundant manpower will be shifted to other operation, it is feared that a large number of employees could face the ax, especially those who started their career during the bubble boom of the late 1980s to the early 1990s.
An employee of Mizuho Bank in his 40s says the news has turned the atmosphere at the bank chilly. He goes on to say that the impact of automation of the banking operation and the job cuts will not be limi…
Read the full article at: https://www.japantimes.co.jp/opinion/2017/12/26/commentary/japan-commentary/smes-fear-megabank-restructure/