Mizuho Financial Group, Inc. will begin allowing its employees to take three or four days off a week if they so choose, starting in December. Some companies have been trying to introduce a four-day workweek, but a three-day workweek for all employees is rare.
Mizuho FG and its subsidiaries Mizuho Bank, Ltd., Mizuho Trust & Banking Co., Mizuho Securities Co., Mizuho Information & Research Institute, Inc. and Mizuho Research Institute Ltd. employ a total of about 45,000 staff, all of whom will be under the new work schedule.
Other group companies are also considering adopting the system. The companies are assuming the system will be utilized by those who are either considering going to graduate school or thinking about getting a second job, as well as those who have children or elderly parents to take care of. However, an employee may offer any reason for accepting a shorter workweek.
Under the new work schedule, employees will be able to take an extra day off a week, in addition to their regular weekend days of Saturday and Sunday. Their salary will be at 80% for a four-day workweek and at 60% for a three-day workweek.
As financial institutions are facing a difficult situation with falling interest rates and the emergence of new companies offering financial services, Mizuho hopes to attract more talent and to increase its employees' motivation by allowing them to have a more flexible work schedule.
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Mizuho Financial Group, Inc. logo
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