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MUFG to close branches and cut staff


The cuts to the headcount, which represent 33 per cent of the workforce at the group’s head office, and 6 per cent of the Bank of Tokyo Mitsubishi’s 33,280 employees in Japan, will come through natural attrition and relocation to other posts, it said.

While these staff numbers are not particularly high compared with banks in the US, Japanese banks are facing a deteriorating economic environment, with rising bankruptcies, falling asset values, an anaemic domestic stock market and the prospect of a return to deflation.

attrition (数などの)減少

anaemic/anemic 貧血(症)の,元気のない

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