Japanese Insurer MS&AD to Shed 6,300 Jobs at Subsidiaries
Tokyo, Nov. 22 (Jiji Press)--Japan's MS&AD Insurance Group Holdings Inc. <8725> said Tuesday that three major subsidiaries will shed 6,300 jobs, or about 18 pct of their combined workforce, over the four years to March 2026.
Mitsui Sumitomo Insurance Co., Aioi Nissay Dowa Insurance Co. and Mitsui Sumitomo Aioi Life Insurance Co. will carry out the payroll cuts after group nonlife insurance operations were hit by massive insurance payments following a string of big natural disasters.
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