Mitsubishi UFJ Said to Plan Headcount Reduction

The video discusses the challenges banks face with profitability due to negative interest rates, leading to cost-cutting measures. A strategy called 'reimaginary' aims to improve efficiency by reducing jobs through fintech and automation. Despite strict labor laws in Japan, banks plan to reduce their workforce via natural attrition and controlled graduate intake. The goal is to save 120 billion yen over seven years, ensuring long-term profitability.

What are the main factors contributing to the squeeze on profitability for banks?

Describe the strategy that banks are implementing to improve efficiency.

In what ways are banks looking to digitize and automate their operations?

How are banks planning to manage job reductions while adhering to strict labor laws in Japan?

What is the expected financial impact of the reimagining strategy over the next seven years?