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MUFG Bank to end uniform wage increases

Traditional seniority-based pay to shift further to merit-based

The labor union for Japan's MUFG Bank wants to break with tradition and start awarding pay raises based on individual performance. (Nikkei montage)

TOKYO -- MUFG Bank's labor and management are expected to agree this spring on a pay system in which raises are based on employees' individual performance evaluations.

The move would mean the union ending the traditional practice of demanding a uniform uplift of the bank's seniority-based pay scale.

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