TOKYO -- The Japanese business community is rolling out benefits designed to entice workers 60 and older to stay on the job longer and ease the labor crunch.
Starting April 2024, Sumitomo Chemical will gradually raise the retirement age to 65 from the current 60. This will apply to unionized employees in all occupations, including sales, manufacturing and specialist positions. Annual pay will stay at the same levels as just before they turn 60.
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