Mitsubishi UFJ Said to Plan Headcount Reduction

The video discusses the challenges banks face with profitability due to negative interest rates, leading to cost-cutting measures. A strategy called 'reimaginary' aims to improve efficiency by reducing jobs through fintech and automation. Despite strict labor laws in Japan, banks plan to reduce their workforce via natural attrition and controlled graduate intake. The goal is to save 120 billion yen over seven years, ensuring long-term profitability.

What is the primary reason banks are facing reduced profitability?

• Increased competition from fintech companies

• Negative interest rates

• High employee turnover

• Rising operational costs

What is the main goal of the 'reimaginary strategy'?

• To expand into new markets

• To hire more employees

• To increase the number of branches

• To improve efficiency and cut costs

How do banks plan to manage workforce reduction in branches?

• By offering early retirement packages

• By closing down branches

• By increasing branch working hours

• By digitizing and automating branch operations

What is the strategy for handling Japan's strict labor laws while reducing workforce?

• Implementing layoffs

• Using natural attrition and controlled intake

• Outsourcing jobs to other countries

• Offering voluntary resignation packages

What is the financial target of the reimagining strategy over the next seven years?

• To double the profit margin

• To save 120 billion yen

• To reduce debt by 30 billion yen

• To increase revenue by 50 billion yen