As part of its efforts to recruit skilled workers and expand its global business by offering higher wages, the operator of the Uniqlo clothing chain will unify its payment system for its employees and executives worldwide, company officials said Tuesday.
Employees of Fast Retailing Co. around the world in the same grade will receive equivalent pay, reflective of price levels in each country, to allow them to maintain a comparatively equal standard of living.
The company is planning to apply the system to employees in the eighth to 14th grades and will consider whether to include the 15th and lower grades as well, the officials said.
For workers categorized in the top seven grades, Fast Retailing has already unified their wage levels, paying the same amount to employees in each category.
The Uniqlo operator has around 4,900 full-time employees and executives in 13 countries and regions such as in Britain and China, and they are divided into 19 grades based on their job duties.
Fast Retailing plans by the end of the decade to boost the number of its stores fourfold to about 4,000, with roughly 3,000 of them overseas.