500 to hire on in ’14; bonuses slated

JIJI, Kyodo

Tokyo Electric Power Co. plans to hire 500 people in fiscal 2014 while earmarking around ¥73 billion for bonuses it will hand out over the next three years.

The figures are included in Tepco’s personnel-cost analysis submitted Tuesday to the Ministry of Economy, Trade and Industry. The operator of the Fukushima No. 1 nuclear plant submitted the plan to a METI panel reviewing its plans to raise household electricity rates.

Tepco skipped regular hiring in fiscal 2012 and fiscal 2013 in order to secure funds to compensate people affected by the triple-meltdown disaster at its Fukushima No. 1 nuclear plant.

Tepco believes it will be unable to secure the number of workers necessary to maintain a stable supply of electricity if it continues to forgo new hiring. It is also concerned it will face difficulty passing technological expertise on to younger ranks.

Regarding bonus payments, the total cost breaks down into ¥14.7 billion for winter bonuses this year, ¥29.4 billion for summer and winter bonuses in fiscal 2013 and ¥29.1 billion for both bonuses in fiscal 2014.

In fiscal 2013, which begins next April 1, Tepco will offer buyout packages to some employees as it is expected to have a surplus of around 900 workers as a result of its streamlining efforts. Tepco hopes to shed 3,600 workers before fiscal 2014.