(Miyo Tanaka – East Asia Forum) Japan’s profitable firms are cutting jobs while young workers are walking away from them without hesitation. Far from unrelated, these trends reflect the erosion of the postwar employment bargain that exchanged loyalty for security. Japanese firms have preserved the traditional system of annual mass hiring of university graduates while abandoning the promise of lifetime employment, prompting workers to treat jobs as market transactions rather than long-term careers. Firms must renew their recruitment practices to reflect this new reality.
Japan’s half-cancelled employment bargain | East Asia Forum
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