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Insurer Sompo Japan to trim 4,000 jobs with automation drive

Company to allow natural attrition while reducing new hires

A spate of natural disasters has raised uncertainty for Sompo Japan's nonlife insurance business. (Photo by Hideyuki Miura)

TOKYO -- Sompo Japan Nipponkoa Insurance plans to reduce its payroll by 4,000 positions by the end of March 2021 -- a nearly 20% decrease from the fiscal year ended March 2018.

The Japanese insurer's nonlife business is under pressure, in part, due to a series of natural disasters in the country in recent years. To cope, it intends to enhance efficiency by automating more clerical processes while scaling back hiring of new graduates.

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