Vodafone Enacts Voluntary Retirement
Vodafone K.K. announced today that its Board of Directors passed a resolution to enact a voluntary retirement program. The program includes a special allowance in addition to the normal retirement allowance as well as job placement support. Some 600 employees are eligible for the program. The announcement comes as no surprise in light of the massive losses announced earlier.
Details are as follows:
As migration towards 3G services in the Japanese mobile communications industry continues to accelerate, intensified competition among carriers is expected with the introduction of new services and price plans, the development of attractive new mobile handsets and the offering of enriched content. Under these circumstances, Vodafone K.K. is positioning the fiscal year 2004 as a ‘year of change’ to drive operational efficiencies and establish a strong financial foundation while leveraging the global synergies of the Vodafone Group’s scale and scope. Amidst this background, Vodafone K.K. requires flexible human resources willing to adapt to change. To optimize the organization accordingly, Vodafone K.K. will enact a company-supported voluntary retirement program for those employees wishing to leave in order that they may enter new ventures.
2. Outline of Voluntary Retirement Program
- Eligible employees: All company employees
- Period: June 28 – July 2, 2004
- Date of retirement: July 31, 2004
- Retirement allowance: Special allowance added to normal retirement allowance
- Re-hiring support: Support to be offered that utilizes re-hiring support company
- Estimated no. of employees: Approximately 600
— The Editors