TEPCO to reduce employees’ salary by 20 percent

April 21st, 2011 - 5:21 pm ICT by ANI  

Tokyo, Apr 21 (ANI): Japan’s Tokyo Electric Power Company is likely to reduce the annual salaries of its employees by around 20 percent, in order to make compensation payments to those affected by the Fukushima Daiichi nuclear power explosion.

The utility is now under negotiations with its labor union to reach an agreement by the end of April, Kyodo News reports.

The proposal targets around 33,000 union members and does not include a workforce cut.

TEPCO is also considering reducing remunerations for company executives.

The utility, meanwhile, is making efforts to sell off its assets to secure funds to pay compensation for people affected by the nuclear crisis, triggered by the March 11 earthquake and tsunami. (ANI)

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