Over 700 quit Tepco in fiscal 2012


About 710 employees of Tokyo Electric Power Co. quit the embattled company in fiscal 2012, which ended last month, up about 50 percent from the previous year’s 465.

After the meltdown disaster at the Fukushima No. 1 nuclear plant started in March 2011, Tepco cut the salaries of ordinary staff by 20 percent and managerial pay by 25 percent and then 30 percent to cope with the huge costs of decommissioning the crippled reactors and paying compensation for the catastrophe.

While a majority of those who quit Tepco in fiscal 2011 were 30 years old or younger, resignations spread among older employees, including those in their 40s, in fiscal 2012.

Tepco plans to resume hiring new graduates in fiscal 2014 for the first time in three years but faces more resignations than it had expected. If such departures continue, the utility may face a manpower shortage, analysts said.