The Mizuho Financial Group has worked out a restructuring program, which includes an average salary cut of more than 10 percent from fiscal 2003, sources close to the program said Sunday.

The program also includes an early-retirement plan for middle-aged workers.

The Mizuho group, one of Japan's four largest banking groups, will announce the measures Monday with the release of its financial statement for the April-September first half of fiscal 2002, the sources said.