Mitsubishi UFJ Financial Group Inc. said it may cut 300 more jobs at its brokerage unit through a voluntary buyout, following an early retirement offer made this year.
The unit, Mitsubishi UFJ Morgan Stanley Securities Co., will offer severance packages to its 6,600 employees in October, said brokerage spokesman Hiroaki Konishi.
The brokerage is paring jobs and raising capital after posting a loss of ¥145 billion last fiscal year. It was hurt by wrong-way bets on fixed-income products.
It has cut about 270 workers through an early retirement offer made in February targeting employees aged 45 to 57.
It said in April it will cut 20 percent of the 540 employees working in proprietary trading, where it trades bonds and derivatives from its own account.
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