Retailer Fast Retailing Inc. Ltd., which owns clothing brand Uniqlo, announced that it will offer salary increases to its employees in Japan from March this year. writes about it www.
The approach will include changing the base salary and performance-based bonus for each term, and the allowances currently in place in Japan will be removed.
The monthly salary of an entry-level employee with a university degree at Uniqlo will increase from the current 255,000 yen to 300,000 yen (or $2,300), representing an annual salary increase of about 18%. The salary of a store manager working in the first or second year will increase from 290,000 yen to 390,000 yen, an increase of approximately 36% annually. The company plans to increase annual salaries by 40% for other employees.
Parent company Uniqlo is also rethinking how employees are rewarded for ambition, growth and ability to contribute to the business. The company will identify the desired skills and requirements for each occupational category and level, and then increase the pay level of each employee. The increase in wages will affect office workers and store workers.
Formerly socialbites.ca reportedUniqlo downsized its network in Russia.