Mizuho Financial Group Inc. plans to introduce a system that would allow employees to work a three- or four-day week, according to informed sources.
It aims to launch the system in December after holding talks with its labor union.
Mizuho Financial will be the first among the nation's megabanks to implement a permanent system allowing employees to take three or more days off every week. The group is adopting diverse work styles in response to the pandemic.
The new work system will cover some 45,000 employees of the holding company and such operating units as Mizuho Bank, Mizuho Trust & Banking Co. and Mizuho Securities Co., the sources said.
Each employee will be allowed to choose to work three or four days. Basic salary will be reduced to 80 percent of the current level for employees who work four days a week and to 60 percent for those working three days, according to the sources.
Mizuho Financial seeks to prevent talented workers from leaving the group by creating an environment in which employees, many of whom need to take care of older family members or raise their children, find it easy to work according to their own circumstances.
The new system is also intended to help employees take time to brush up their skills in their respective areas of work, according to the sources.
As part of its efforts to diversify work styles, Mizuho Financial began allowing its employees to work separate jobs in October last year.
In line with the completion of new offices in Tokyo's Marunouchi district next month, the group will have 25 percent of some 12,000 employees who were working in the Marunouchi and nearby Otemachi districts switch to working from home.