Japan’s Biggest Bank Offers Redundancy to Hundreds of Managers in London
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Mitsubishi UFJ Financial Group Inc. is preparing major job cuts in London, another sign of the deepening troubles Japan’s banks face at their overseas operations.
MUFG, the country’s largest lender, is offering voluntary redundancy packages to about 500 directors and managing directors in London, according to an emailed statement. That’s roughly a quarter of its workforce in the city.