Japan’s Mitsubishi Chemical Corp. announced 1,273 job cuts as part of restructuring, with costs estimated at 32 billion yen. An extraordinary loss of 27.7 billion yen was recorded in the first half of fiscal year ending March 2026. The company expects labor expenses to decrease by 16 billion yen annually. Manager-level employees aged 50 or older were eligible for the Next-stage Support Program, with a retirement date set for end of February 2026. Affected employees will receive retirement and special payments, with reemployment support available. Manufacturing employees are excluded from the program. The reduction impact is factored into the full-year forecast. Mitsubishi Chemical shares were trading at 861.60 yen in Tokyo, up 1.41%.

Read more at Nasdaq: Mitsubishi Chemical: 1,273 Jobs Affected Under Support Program; Sees JPY 32 Bln Restructuring Costs