MetLife Offers Staff Buyouts in Japan Amid Office Consolidation
- Option is voluntary, starts Oct. 3 for certain Japan workers
- MetLife is also consolidating Tokyo offices, spokesman says
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MetLife Inc. said its Japanese business will offer early retirement packages to some staff as the insurer consolidates operations in Tokyo to help counter pressure from low bond yields.
Non-sales employees who are 45 or older and have been with the insurer for at least three years will get as much as two years of monthly pay if they decide to leave, John Calagna, a spokesman for the New York-based company, said in an e-mail Monday. The Nikkei reported the news earlier and said about 4,800 people are eligible. Calagna declined to comment on the figure for the voluntary program, which starts Oct. 3